Trader Mindset Back Door Your Way Into Greater Levels Of Mental Toughness
Sep 19, 2023
Explore how protective stops can maximize profits while minimizing risks in trading. Discover the significance of mental toughness and resilience for lasting success in the market. Practical examples illustrate the balance between strategy and mindset, showing traders how to navigate challenges effectively. Learn to cultivate a long-term perspective that enhances performance and decision-making. It's not just about numbers; it’s about strengthening your inner game.
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Trail Protective Stops to Lock Gains
- Move your protective stops upward as the trade becomes profitable to lock in gains.
- This approach lets you stay in the trade longer and potentially earn multiple R profits.
Start Small to Build Mental Toughness
- Practice staying in winning trades by starting with very small position sizes to learn emotional tolerance.
- Experience letting winners run to develop mental toughness and trust market trends.
Trends Often Persist Overnight
- Strong trending markets often sustain moves overnight, proving holding winners can be profitable.
- Letting the market do the work can lead to profits without constant trading.