In trading, there are only two important elements, the Payoff Ratio

and Probability of Win. These are the only two things we traders can

control. We have to leave every other condition to the market.

Don't focus on the money when trading.

One of the values that I think helped me in trading and life is: Don't

focus on the money when trading.

Even though trading deals with money, I feel that those who are

concerned about making or losing money, lose it. You should focus only

on being a good trader. When it is time to buy, you buy. When it is time

to cut loss, just cut loss and do it quick! When it is time to take profit,

take it, and do not be greedy hoping for more.

Next, focus on being rather than getting.

As you trade, focus on being a good trader rather than getting the

profits. Once you are a good trader, money is a given, a by-product.

However, if you are only concerned about making money, you will

never be a good trader.

Trading is like a sport

The correct mindset in trading is to treat it like a sport. When a champion

tennis player serves for the final match, he will not be thinking if he

wins this point, what will be the reward he is going to get. The right

mindset is to fight for every point and being present. This is the same as

trading, when you are trading, you want make sure that you are doing

the right thing at any point of time and not be swayed by emotions.

In conclusion, the secrets of successful trading is not so much techniques or strategies, you need the get the psychology right. We will cover more about Psychology during our live training.

You can sign up now here >> Collin Seow Live Training

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