Being a trader is not just about formulating better strategies and performing more extensive analysis, but is also about developing a winning mindset. According to many studies of traders, what separates a winning trader from a losing one:
Most traders when they first begin trading mistakenly believe that all they need to do is find a great trading strategy. After that, all they’ll need to do is come to the trading market each day, plug in their great trading strategy, and the market will just immediately start pumping money into their account.
Unfortunately, as any of us who have ever traded have learned, it’s not that easy. There are plenty of traders who use intelligent, well-designed trading strategies and systems who still regularly lose money rather than make money.
The few traders who do consistently win the game of trading are those who have developed the appropriate psychological mindset that enables them to be consistent winners. There are certain beliefs, attitudes, and psychological characteristics that are essential to conquering the world of trading.
