Positive Attitude = Win at Trading ?

[advfntrader]

I've been reading a lot of trading psycology books and have been thinking a bit, I reckon many people make trading more complex than it really is...

- Is it simply a case of having a system or method to get you into a trade, know where your stop is etc.

&

- Having a WINNING mentality, positive attitude. ie. Be confident that your trade will be a winner.

(if its a loser then so what - stay positive and move ontot he next entry. )

basically act like a robot, keep emotions out. If you think like a loser then you most likey will end up one ?

 

[Rossini]

Having a PMA will not stop someone from losing money in the markets, but I would say it is essential to have a PMA to win in the markets.

 

[Bloodhound]

Funny you should start this thread as I have just spent half an hour on the phone to a trader friend of mine who has been explaining how those with a losing mentality will subconciously note losing set-ups / patterns and trade them regularly. In the same way that, if you are skiing down a hill and there is a tree in front of you, if you stare at the tree you will ski straight into it, whereas if you don't look at it you will miss it.......

 

[Rossini]

But if you don't see the tree because you don't look at it then you might hit it anyway;-)

 

[Bloodhound]

But if you don't see the tree because you don't look at it then you might hit it anyway;-)

Good point!! I guess in terms of trading one could use the tree as an analogy for trend direction?

 

[Black Swan]

deffo a bit of T2W 'universal consicousness' on 'ere of late...

as I was thinking re. this early this morning. A positive outlook is absolutely essential to trading IMHO. In simple terms, why the fook would you do it if you weren't positive about the outcome?

 

[shadowninja]

I don't think anyone goes into trading thinking, "I don't know why I'm doing this. I'm going to lose a fortune." They go in thinking about the fleet of Ferraris, luxury holidays and mansions they can buy. If that isn't PMA, I don't know what is.

PS 115% probability system is yours if you click below.

 

[Technically Fundamental]

as I was thinking re. this early this morning. A positive outlook is absolutely essential to trading IMHO. In simple terms, why the fook would you do it if you weren't positive about the outcome?

Exactly

What kind of lunatic wakes up one morning and says I'm going to throw all my money into the markets and lose it?

 

[oiltanker]

if you listen to people's speech patterns that is exactly what some people do say.

its even in some of the signatures.

 

[mrsoul]

I've been reading a lot of trading psycology books and have been thinking a bit, I reckon many people make trading more complex than it really is...

- Is it simply a case of having a system or method to get you into a trade, know where your stop is etc.

&

- Having a WINNING mentality, positive attitude. ie. Be confident that your trade will be a winner.

(if its a loser then so what - stay positive and move ontot he next entry. )

basically act like a robot, keep emotions out. If you think like a loser then you most likey will end up one ?

First of all, nearly everyone who starts trading or continues trading has a positive attitude.
A positive attitude will get you a cup of coffee- that's all.
The only thing that will make you money trading is know-how, period.
And I bet that if you had the know-how with a negative attitude you would still do very well and then you're attitude would turn positive.

 

[blancspa]

Doesn`t matter what you feel, think - market will do it for you either way....

and btw...How do I change the flag?

 

[HammerMan87]

I would think that a positive attitude would help give you the tenacity to stick with trading. I'm sure there are many negative thinkers out there who gave trading a shot, lost money, and gave up - hence they will never be successful as they didn't have a positive attitude to help them ride out the unprofitable weeks/months/years it takes to become successful.

 

[Dinos]

PMA won't help at all, having a great PMA and a crap system doesn't mean the PMA will make it work, you need a sound robust system, tested, back and forward tested and a well formulated trading plan, PMA won't help you, if the plan is viable, patience to wait for the setup to come to you, discipline to implement the trade according to your plan. Before any trade I take, I know 2 things, what my winning or losing position will be, I know exactly what the outcome will be one way or the other, with with statistical backing the odds are in my favour, quite re-assuring, does PMA come into it?....not at, weeks and months of hard graft, testing etc etc etc... PMA wont make a bad position turn good, just a thought

 

[Bloodhound]

PMA won't help at all, having a great PMA and a crap system doesn't mean the PMA will make it work, you need a sound robust system, tested, back and forward tested and a well formulated trading plan, PMA won't help you, if the plan is viable, patience to wait for the setup to come to you, discipline to implement the trade according to your plan. Before any trade I take, I know 2 things, 1 if this delivers or loses, I know exactly what the outcome will be, quite re-assuring, does PMA come into it?....not at, weeks and months of hard graft, testesting etc etc etc... PMA wont make a bad position turn good, just a though

If anything PMA might make a bad situation worse - moving stops back for example?

 

[Dinos]

If anything PMA might make a bad situation worse - moving stops back for example?

For sure, suppose it can interfere, if you let PMA overide the trade which is screaming close, human emotion and trading don't go well together imho

 

[Bloodhound]

For sure, suppose it can interfere, if you let PMA overide the trade which is screaming close, human emotion and trading don't go well together imho

In other words the ideal would be to have a 'Neutral Mental Attitude'?

 

[Dinos]

In other words the ideal would be to have a 'Neutral Mental Attitude'?

Sure, or any "Mechanical", focus on trading your plan, the hardest thing I fought was emotion, in my early years, I still hesitated "hitting the button" when the set up said go, only to kick myself after, getting rid of the emotion and turning systematic, waiting, watching for the set to come, etc, etc, Simple way to conquer it, I assume we all trust our set ups and the stats are on our side, I generally, take the trade and move on to the next and wait for another to develop and don't sit waiting and watching etc, take the emotion out of the trade and let the mechanics of the reason you took the trade take over, if that makes sense?, getting tired now, hehe

 

[arabianights]

depends on your method of trading but success begets success; take a few winning trades, you'll be happier and thus take more risks and make even more winning trades... trick is to not get reckless.

 

[elitejets]

If anything PMA might make a bad situation worse - moving stops back for example?

Having a PMA about your trading plan, rather than just your trading will stop you moving your stops back and make you stick to the plan. Only way to get that is to keep doing it and testing it with small amounts of money so you know it works.
Over-confidence and complacency are just as much a killer as lack of confidence, I found.

 

[Dinos]

depends on your method of trading but success begets success; take a few winning trades, you'll be happier and thus take more risks and make even more winning trades... trick is to not get reckless.

or greedy