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TRADING PSYCHOLOGY by Rande Howell


FX


Developing the Mind of a Highly Effective Trader


Tere is an invisible hole right in the middle of your trading strategy doing damage


to your


trading potential


every day. And if you could plug that hole, things would be very different. You would be achieving your dreams of financial success and experiencing personal satisfaction. Te reality, though, is that you have the plan but you cannot seem to trade your plan when the money is real and the losses count. You try hard and are


determined, but the results speak for themselves. Talk is cheap. Results speak loudly. Aſter all that effort and expense, the roller coaster ride of trading still dominates your trading account.


At some moment smart traders conclude that the problem is with the mindset they bring to trading. Do not take it personally – just about every trader has this same problem.


Nobody wants to get up-close and personal about it, particularly trader trainers selling you the dream, so it remains the elephant in the room that nobody acknowledges. Consequently, traders are leſt to their own devices to find the hole in their trading performances and to fix it – but with a brain that absolutely refuses to see itself as the problem. A daunting task when you see the failure rate of traders trying to become successful.


FX TRADER MAGAZINE January - March 2019 47


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