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The Insight Trader Reveals Effective Ways To Deal With Losses
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At some point in the insight trader`s career, he will be facedwith a string of losses that will bring his confidence to anall-time low. Every active trader hits this point at least once,and some will visit it several times. This active trader willreveal to you ways to successfully deal with this problem.
First, every active trader needs to take a break from trading. Aone-week break will allow the insight trader to relax andregroup. It is impossible to trade effectively when the insighttrader is under extreme stress. When the insight trader hasdecompressed and returned to a more positive frame of mind, theinsight trader will be able to reaffirm goals and think clearly,when the time comes back to go back to the trading room.
The insight trader should pay careful attention to his mindset.If the insight trader does not have a positive approach totrading, the best tools and strategies can be at his disposal,but trading will not give the results he wants. There arevarieties of meditations and visualization techniques that canhelp the insight trader achieve a positive mental outlook. Learnabout them, and use the ones that work the best. Once theinsight trader can effectively see him, as an up-and-comingsuccessful trader that will meet and exceed all goals, theinsight trader is more than half way there. Remember, theinsight trader`s mind is the greatest asset he posses.
Next, the insight trader should consider his trading experience- up to now. It makes sense to take stock of trading, and askthis important question:
The most important question is: ‘Have I been following mytrading plan?’
Often failure in the market is caused by not following a plan.See when the insight trader departs from his plan, consider whatis needed to be done and do not make the same mistake twice.This kind of analysis will give the insight trader valuableinsight into trading, and help attain much greater success inthe future.
With consideration of the trading past in hand, make whateveradjustments needed to the trading plan. The insight trader`strading plan should define his approach to trading, and shouldgive him a course of action for any circumstance that mightarise. Without a comprehensive trading plan, it is verydifficult to be a successful active trader.
Last, when the insight trader begins trading again, follow theplan flawlessly and acknowledge the fact that this is hard todo. But, commit to doing this step and be disciplined. Eitherundisciplined behaviour will be punished by the market, bydirect losses or by the loss of profits, the insight tradercould have made. However, the market can confuse this issue withrandom reinforcement. Random reinforcement is the market`stendency to reward bad behaviour from time to time. This is onereason why it takes so long for active traders to understand themarket. However, even with random reinforcement, it makes nosense to have a system if the insight trader is not going tofollow it.
Given that a trading plan is so hard to follow, the insighttrader should take some time to reward himself for doing thisdifficult task. Celebrate even if more losses than winningtrades are made. Remember, losses are just as important aswinning trades; they are a part of any system, and a sign thatthe insight trader is following the market wisdom of cuttinglosses short.
When active traders are up and trading again, they shouldconsider finding a coach. Even this active trader has a coach.In fact, this active trader has several coaches in all areas oflife. This active trader learned the importance of mentors fromTiger Woods. Even he has a coach. Now why does the best golferin the world have a coach? It certainly isn`t because his coachplays a better round of golf than him. No, it`s because a coachcan see things from a different view point. A good coach can bevital in helping the insight trader along his trading journey.
It isn`t easy to pick up and start trading again after a longseries of losses. But, with these techniques, the insight tradershould find himself trading again, and making money. With theright approach and a well-designed trading system, it`s only amatter of time before the insight trader becomes a successfulagain.
Discover BIG profits from the market by downloading your FREEcopy of David’s new Ultimate Stock Trading Systems course. http://www.ultimate-trading-systems.com/stocks.htm
About the author:
READ my articles; you’ll FIND the most powerful insider tradingplans & tips ever put together. Searching for these on your own,is a needle in a haystack (hard to find). I trade everyday & myprogressive efforts found the perfect trading card, a set system& plans that really work. These online trading systems areunbelievably powerful, lucrative, reliable, yet simple to use.Until recently, I’ve kept this formula to myself. NOW, I revealall.
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