What is the best mindset?

Hello everybody,

I was scrolling through forums reading and learning. Then, I faced with this word: “Mindset”.
Most probably it is not a new topic, but I was curious to hear other people idea.
What is the best mindset a trader whether pro or newbie should have?

I would be more than happy to learn from your experiences!

A ZEN mindset is probably the most important when trading. The only control you have is risk exposure, so just accept emotional challenges as being the norm.

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The best mindset for traders - whether pro or new - is to be disciplined, patient, and open to learning and adapting. Successful traders stick to their plan, don’t let emotions drive their decisions, and stay optimistic even when they face losses. They also know that trading is a long-term game, so they stay focused on their goals and continuously improve their skills. With a positive and realistic mindset, traders can make better decisions and improve their chances of success.

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Hmm, I’m curious. Would you mind to explain more about ZEN mindset? I like to know more.

Wow! to many things to consider. Thank you so much Oli_jackson.

Try The Zen Trader by Peter Castle. I recommend this book

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The best mindset a trader, whether professional or novice, should have is one that is focused on discipline, patience, and a willingness to learn and adapt.

Hmmm. :thinking: When it comes to trading, I think it does help a lot to condition your mind that each trade comes with its own risks, and eventually accept that there will be moments that you lose more than you win. :thinking: I think that will give you peace also. :smiley:

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Being realistic! I like that.

Do you mean the best mindset for trading? Perhaps, you expect “positive” as the most appropriate answer for a wide range of questions. I would say no. It should be realistic. You need to be aware of your weak points and take them into account when trading. For example, I can’t follow the market all the time but I’m good at trading in range.

Exactly, I wasn’t seeking “positive” as an answer; mostly I was after finding a realistic mindset.

That’s what I appreciate. I prefer to deal with the real world rather than just trying to keep a positive mind.

A constantly learning mindset. This means even disappointing mistakes are lessons to be learned! :slight_smile:

A wise saying! Noted!
Thank you!

I think the best mindset is willingness, patience, and eagerness to learn because in trading and forex the horizons are very wide and there is always something new to learn.

although that is truly right, but it can be also a trap. at some point you need to take an action and do something.

Hey @Ethan.ishere
Can you tell me how you can tell that you reached to that point?

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Actually, no. That is somewhat individualized, so each person should determine when they are prepared to act.

rational. Can’t disagree to that. :grinning_face_with_smiling_eyes: :grinning_face_with_smiling_eyes: :grinning_face_with_smiling_eyes:

Patience is a virtue in trading.