Part 4: Rational Analysis When You Trade Stocks
By Ultimate Trading
Youll need to learn how to adjust your attitudes and beliefs about trading so you can trade stocks without fear
Confidence and fear are contradictory states of mind that both stem from
our beliefs and attitudes, especially when we trade stocks. To be confident
while youre functioning in an environment where you can easily lose more
than you intend to risk requires absolute trust in yourself. However,
you won't be able to achieve that trust until youve trained your mind
to override your natural inclination to think in ways that are counterproductive
to being consistently be successful when you trade stocks. Simply learning
how to analyze the markets behavior is not the only skill you need.
You have two choices: You can try to eliminate risk by learning about
as many market variables when you actively trade stocks. Or, you can learn
how to redefine your trading activities in such a way that you truly accept
the risk and you're no longer afraid.
When you've achieved a state of mind where you truly accept the risk when
you trade stocks, you won't have the potential to define and interpret
market information in painful ways. When you eliminate the potential to
define market information in painful ways, you also eliminate the tendency
to rationalize, hesitate, jump the gun, and hope that the market will
give you money when you trade stocks, or hope that the market will save
you from your inability to cut your losses.
As long as you are susceptible to the kinds of errors that are the result
of rationalizing, justifying, hesitating, hoping, and jumping the gun,
you will not be able to trust yourself when you trade stocks. If you can't
trust yourself to be objective and to always act in your own best interests,
achieving consistent results will be next to impossible. Trying to do
something that looks so simple may well be the most frustrating thing
you will ever attempt to do. The irony is that, when you have the appropriate
attitude, when you have acquired a traders mind-set and can remain confident
in the face of constant uncertainty, you will find that when you trade
stocks, it will be as easy and simple as you probably thought it was when
you first started out.
So, whats the solution? Youll need to learn how to adjust your attitudes
and beliefs about trading so you can trade stocks without fear
the same time keep a framework in place that keeps you from becoming reckless
when you trade stocks.
The successful trader that you want to be is something you have to grow
into. Growth implies expansion, learning, and creating a new way of expressing
yourself. In order to become more successful when you trade stocks, youll
have to change. This is true even if you're already a successful trader
and are reading this book to become more successful. Many of the new ways
in which you will learn to express yourself will be in direct conflict
with ideas and beliefs you presently hold about the nature of trading.
You may or may not already be aware of some of these beliefs.
In any case, what you currently hold to be true about the nature of trading
will argue to keep things just the way they are, in spite of your frustrations
and unsatisfying results. These internal arguments are natural. Your willingness
to consider that other possibilities exist possibilities that you may
not be aware of or may not have given enough consideration to will obviously
make the learning process faster and easier when you trade stocks.
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