Sunday, October 4, 2009

The Market Traders Philosophy

All successful traders learn that working through frustration is the path to success. Knowing what to do when you get frustrated is critical. Learning to overcome and master your frustrations in life, as well as in trading, is an important part of a trader’s armor.

Strong people make as many mistakes as weak people. The difference is that strong people admit their mistakes, laugh at them, and learn from them, and that is how they become strong. Mistakes are part of being human. We need to appreciate our mistakes for what they are. Just about all of life’s important lessons can only be learned the hard way, by making mistakes.

Before you begin trading, you need to create your own mission statement to help you focus on becoming an educated, financially successful, long-term Forex trader. I want you to think of your journey toward becoming a successful trader as a transformation of thought, a new process of knowledge build-up, followed by:

1. Disciplined thought
2. Disciplined rules
3. Disciplined action


 
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