Now you know what it takes to stay focused and how important it is. If you haven’t grasped the concept then please
read again . If you think that you can’t relate to that then you are not letting your guard down and preventing
the light of learning to be ignited in you.
The next step is focusing on misconceptions that every trader has encountered during his/her journey.
A statistical statement goes like this; ‘’ I made 3% on a single trade today, if I do this everyday I can make 15% a week/60% a month.’’ You surely have done such calculations at one point in your trading career. You probably have found out that this is not working for you. Against the odds I’m here to tell you that you are on the right path! You just have to change your formulation.
A statistic is nothing but a number. In order to make it feasible you’ll need to turn it into a realistic term. What if you spot a Z pattern that gives you an excellent entry point to ride a big swing? What if that happens a couple of times within the day? By putting inflexible statistics on the table you are limiting your gains. A coach doesn’t tell his footballers to score 3 goals today, he let’s them play to their limits. Thus play what the market offers you and it see how it makes wonder on your account.
Moreover, 3% on a small account could be as little as 3£-9£ or maybe a bit more. Over the time gathering these small
amounts can still go a long way. But you need to be vary that there is an underlying force inside you that wants to make more money. However, since your account is limited you won’t see a pay rise. Here is a practical way that will guide you for the long haul;
Whatever your account size is, is the money you are able to risk. Your job is to make money from what is available.
As a Trader you are fully responsible for that amount and any losses or gains are dependent on time.
Over the time following the so far outlined trading mindsets and still to come trade setups will lead you to your
ultimate goal.
[B]You need to adhere and put into practice what you read here, in order to learn it!
Otherwise all this, is nothing but another good read.[/B]
Cheers