Accept the risk

in #forex6 years ago

"smart risk, high gain"
"right attitude—the right, mind-set"
"losing is a natural consequence of trading"
"market owes you nothing"
"start sensing the flow of the market"

Learning to accept the risk is a trading skill, the most important skill you can learn

The best traders can trade without fear, at the same time, avoid recklessness
and committing fear-based errors

trader with absolutely no fear of the consequences of screwing up
will usually, and quite spontaneously, enter into "the zone."

At that point, you can take full advantage of all your skills, analytical or otherwise, to eventually
realize your potential as a trader

When you accept the risk the way the pros do,
You won't perceive anything that the market can do as threatening.
If nothing is threatening, there's nothing to fear.
If you're not afraid, you don't need courage.
If you're not stressed, why would you need nerves of steel?

Great Traders smile at pain, do not avoid pain by preventing the market from hurting you

Good trader’s kryptonite is overconfidence / euphoria
learned how to create a healthy balance, between confidence and restraint.

positive winning attitude, current result = you current trading level.
embrace the responsibility and stop expecting the market to give you anything or do anything for you.
If you resolve from this point forward to do it all yourself,
the market can no longer be your opponent.
If you stop fighting the market, which in effect means you stop fighting yourself,
you'll be amazed at how quickly you will recognize exactly what you need to learn,
and how quickly you will learn it.
Taking responsibility is the cornerstone of a winning attitude

The best traders stay in the flow because they don't try to get anything from the market;
they simply make themselves available so they can take
advantage of whatever the market is offering at any given moment
let the market tell you.

when not in the flow, the very best of the best can recognize that fact
and then compensate by either scaling back or not trading at all.

The essence of what it means to be in "the zone"
is that your mind and the market are in sync.
As a result, you sense what the market is about to do
as if there is no separation between yourself and the collective consciousness
of everyone else participating in the market.
The zone is a mental space where you are doing more than just reading the collective mind,
you are also in complete harmony with it.

I AM A CONSISTENT WINNER BECAUSE:

  1. I objectively identify my edges.
  2. I predefine the risk of every trade.
  3. I completely accept risk or I am willing to let go of the trade.
  4. I act on my edges without reservation or hesitation.
  5. I pay myself as the market makes money available to me.
  6. I continually monitor my susceptibility for making errors.
  7. I understand the absolute necessity of these principles of consistent
    success and, therefore, I never violate them.
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Nice one. Following and wishing you good luck ;)

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