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Your Lesson 07

Task: Listen to the Audio Lesson or Read The acritical


Goal: To learn the one thing without it, no one can get success in trading

The One reason most trader does not get the desired result

Lesson 7
00:00 / 02:15

Greetings, today, we will discuss why a trader does not get the result.

For trading to work well, we need rules and restrictions to tell us how to act.

 

Otherwise, trading can cause enormous damage beyond what we think is imaginable.

 

To avoid harm, we need a mental discipline and viewpoint that directs our behavior, so we always behave in our best interests.

 

Otherwise, there are no formal standards to guide behavior.

 

There are no beginnings, middles, or ends, unlike other activities.

 

This has substantial psychological repercussions.

 

The market is always moving.

 

It's nonstop and never stops.

 

Nothing in society prepares us for a "boundary-less" environment.

 

No one (but yourself) will force you to decide your risk in trading.

 

In a limitless world, anything can happen anytime, and only consistent winners define their risk before trading.

 

Defining the risk in advance forces everyone else to accept that each trade could be a loser.

 

Consistent losers do virtually anything to avoid admitting that any trade can lose.

 

Without an external framework compelling the ordinary trader to think otherwise, he is subject to excuses,

rationalizations, and twisted logic that will allow him to enter a trade believing it can't fail, making risk assessment unimportant.

Whatever you plan or want to do, psychological factors might cause irregular and unexpected behavior.

Trading never stops.

The market won't cancel a trade.

Without the proper mental structure, you can become a passive loser.

Trading is both a blessing and a curse.

 

We're in charge of everything we do for the first time in our lives.

 

No external rules or boundaries structure or govern our actions.

 

The free trading environment requires restraint and self-control if we seek constant success.

 

A conscious act of free will must guide our behavior.

 

The problems start when almost every losing trader is unwilling to set a rule to guide their trading.

 

In the next lesson, we will discuss more of that.

 

Until next, enjoy your day.

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