Winners and Losers in Trading Commodity/Share/Currency Markets a Comparison

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mind set between professional trader and amateur trader in forex, mcx, nse, comex trading

Comparison of Mind Set in Professional Trader with Amateur Trader

We come to the market from different walks of life and bring with us the mental baggage of our upbringing and prior experiences. Professional traders are making consistent profit from trading in Financial Markets like FOREX, MCX, NSE, COMEX, etc but most of us find that when we act in the market the way we do in our everyday life, we lose money. Your success or failure in the market depends on your thought and feelings. It depends on you attitudes toward gain and risk, fear and greed, and on how you handle the excitement of trading and risk.

Most of all, your success or failure depends on your ability to use your intellect rather than act out your emotions. So what are the mind set between a professional trader and an amateur trader who starting trading or loosing money in trading, a professional trader has the ability to control his mind while in trading rather than an amateur trader’s mind set, a professional trader developed the winning mind set not in a day, its about practice and hard work. A trader who feels overjoyed when he wins and depressed when he loses cannot accumulate equity because he is controlled by his emotions. If you let the market make you feel high or low, you will lose money. To be a winner in the market you must know yourself and act coolly and responsibly. The pain of losing scares people into looking for magic methods. At the same time, they discard much of what is useful in their professional or business backgrounds.

The Financial Market is Like an Ocean:

It moves up and down regardless of what you want. You may feel joy when you buy a stock and it explodes in a rally. You may feel drenched with fear when you go short but the market rises and your equity melts with every uptick. These feelings have nothing to do with the market-they exist only inside you. The market does not know you exist. You can do nothing to influence it. You can only control you behavior.

The ocean does not care about your welfare, but it has no wish to hurt you either. You may feel joy on a sunny day, when a gentle wind pushes your sailboat where you want it go. You may feel panic on a stormy day when the ocean pushes your boat toward the rocks. Your feelings about the ocean exist only in your mind. They threaten your survival when you let you feelings rather than intellect control your behavior. A sailor cannot control the ocean, but he can control himself. He studies currents and weather patterns. He learns safe sailing techniques and gains experience. He knows when to sail and when to stay in the harbor. A successful sailor uses his intelligence.

An ocean can be useful – you can fish in it and use its surface to get to other island. An ocean can be dangerous, you can drown in it. The more rational your approach, the more likely you are to get what you want. When you act out your emotions, you cannot focus on the reality of the ocean. A trader has to study trends and reversals in the market the way a sailor studies the ocean. He must trade on a small scan while learning to handle himself in the market. You can never control the market but you can learn to control yourself.

A beginner who has a string of profitable trades often feels he can walk on water. He start taking wild risks and blows up his account. On the other hand an amateur who takes several losses in a row often feels so demoralized that he cannot place an order even when his system gives him a strong signal to buy or sell. If trading makes you feel elated or frightened, you cannot fully use your intellect. When joy sweeps you off your feet, you will make irrational trades and lose. When fear grips you, you will miss profitable trades.

A professional trader uses his head and stays calm with his trade friend like best technical analysis software which can capable of providing accurate buy-sell signals. Only amateurs become excited or depressed because of their trades. Emotional reactions are a luxury that you cannot afford in the markets.

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