TRADING PSYCHOLOGY


does it for? for the money? No. At least


in the beginning people do


it because they like it. Or because they want to get better and better at it, or to become a stronger


person. Not


for the money. The desire for money comes later, when they reach a professional level or become champions in their category. In contrast, when we talk about trading, it’s all about the money – we are interested in trading because we want to extract monetary success out of it.


Strangely enough, you will learn that the best way to reach success in trading


is to stop


focussing on the money, and start focussing on your skills. And this is exactly what I want to help you to do: focus on your skills, not on the money. If you apply the techniques that you are going to learn along the way and become sufficiently


skilled to


produce consistent results, then you will reach your goal to become a successful trader.


The methodology you are going to learn in this series of articles represents years of work and experience both as a trader and


your combined efforts could result in more than 100% improvement in your trading performance.


Trading Skills Basic Principles


There are four macro areas you need


coach, and they set winning traders apart from losing traders. If you improve your skills by only 10% in each of the macro-areas of trading,


FX


to work on to become a successful trader. The Market; The Mind; The Method; and The Money Management. I will dedicate an article to each of them. In today’s article we will study what is the market and which rules a traders should follow to survive and win on the market.


But let’s first review a few basic principles which


traders


always have in mind. Work on your skills


One of the fundamental principles to understand is that the money that you receive from trading is a sub- product of your skills.


Good traders continuously focus on building


those


The money you receive from trading is simply a sub-product of your skills


report skills,


while bad traders always focus on the money instead. On average, brokers


that


there are only about 20 to 30% of winning


traders. Which means that 70 to 80% of traders lose money. Your first goal should be to get into the first group. Now, looking at the winners group, you’ll find out that only 2 to 3% of them make really good money.


It takes some time. It’s not easy. FX TRADER MAGAZINE January - March 2019 29 should


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