search.noResults

search.searching

dataCollection.invalidEmail
note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
FX TRADING PSYCHOLOGY


The Three-Legged Stool of Successful Trading, Rescue


Mindset is the last place in the world that you might look to find problems in your


trading


and your trading system. Traders a c k n owl e d g e problems their


And if humans were


beings, in trading


psychology, but seek the answer to their problems s o m e w h e r e else other than within.


But


there are three aspects that have to be combined in order to create the conditions of effective tr a d i ng . Without


all


three working together, 3-legged


the


of successful trading


stool is


It is rare to find a trader who has the solid mindset that allows him to trade his edge


unbalanced and does not produce the stable conditions needed for success.


Enormous are emphasis,


money, and time are placed on two of the three…platform and methodology


an enormously


important aspects of effective trading. But it is the mindset of the trader that drives both platform and methodology. Without


effective mindset the other two are wasted.


48 FX TRADER MAGAZINE January - March 2019


the way you effectively manage risk. Ultimately, trading is about finding re-occurring patterns in an ocean of randomness. Your methodology has


to give you an edge in the


management of this randomness. By being able to discern potential patterns that work to your favor, you are able to extract capital from the markets at a rate higher than the capital you give to the markets. It is this proven risk management


rational these


two elements of


trading


(platform and me thodolo g y) would be enough to


the necessary advantage


provide in


managing re- o c c ur ri n g patterns in a field of randomness. Tat is a big “IF”. Tink of it in terms of auto racing. Te track is the platform upon which all cars and drivers compete


for success. Te car is


the methodology – delivering an edge to the driving team if, and only if, the driver (trader psychology) has the right skill sets to effectively manage his car on that track. In any given domain of performance there will be a large field of people who know how to operate. However, in racing, there will only be about 10 or 15 elite performers who can drive that car to success on a consistent basis. Te driver makes a huge difference. So it is a decision of


to the


If you have ever worked with a clunky or inadequate platform, you know the importance of having an efficient platform to execute your trading strategy.


with your


It is necessary. Te same trading methodology or


of a solid methodology that gives you a favored potential in terms of outcome. The problem is that it is rare to find a trader who has the solid mindset that allows him to trade his edge.


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79
Produced with Yudu - www.yudu.com