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  1. #1
    Rookie Member YuvalP's Avatar

    State of mind for trading !!!

    I would like to share my state of mind before I get into a trade.

    I can discerning from experience between one state of mind which is the observer and the second which is the thinker.

    The thinker can only react identify situations and act, the problem is that after it locked i can not see the all picture and decide. this way I mostly lost.
    When I look at the graf if I want it or not my brain will be lock on a pattern if he will see it, he can not look widely and then decide.
    The observer can do that. so what i did was changed the story.

    I decided to let the thinker (ego) to do what he know the best... to act from the known, I mean with all the rules i know but the opposite way !
    My ego is trying to find only why I should not get into a trade, this way i can be calm, my ego is not afraid to lose cause he is acting only at the known area, which gives the observer to see and decide.

    Hope its not complicated.

    Yuval Perry

  2. #2
    Legendry Member Michael Hodges's Avatar
    Trading for me is mechanical. I study the markets and when I find my trade i make it with no concern for profit or loss. I make trades as they come, knowing that my analysis, money management and trading record will combine to bring me profits at the end of the month.

  3. #3
    Veteran Member Dan21's Avatar
    Hi Yuval! I am not sure what’s in your mind when you trade, but for sure it is very complicated process of the trade perception especially if you trade discretionary, multiframe and using many indicators. Michael is right that mechanical trading simplify most of the elements of trading and lower the psychological pressure on the mind. I was great proponent of discretionary trading until I saw that it is very difficult to prepare a statistical evaluation of such trading style. It gives tremendous advantage if your strategy could be evaluated and backtested. You know that backtesting on discretionary trades is almost impossible. So now I don’t think this is the best trading style, unless your mind is really very good in predicting or just guessing the future.

  4. #4
    Legendry Member Michael Hodges's Avatar
    Back testing is nearly useless.....the market is in the moment, each condition is different than the last, the market adapts. I trade in the moment but stick to my rules, its the rules that make me a winner.

  5. #5
    Solid Member
    My trading plan includes mostly mechanical trades and only when there is some major news anouncement and some discretion could be involved. There is a way to trade only discretionary, but it is much more difficult psychoogicaly because you need to be very patient and very calm in order to not trade based on emotion but only based on calm mind. That is also a probelm and I am not sure I could trade that way, mechanical systematic trading is better in many ways, but also it has some disadvantages and someties you are missing the biggest profits when trade only mecahnicaly.

  6. #6
    Active Member
    Maintaining a positive mindset has always been my driver when trading. Instead of relying on what I do wrong, I constantly tell myself that I can do it--even after 5 consecutive losses.

  7. #7
    Rookie Member
    i agree with the concern of most of engaging into trading that those personal documents required by stockbrokers in registering account are dangerous to give. The truth is that i am not trading at all and just recently i’ve come to my decision to start earning money and make profit using binary trading. that’s why i am searching thoroughly regarding the legitimacy and reputation of stock broker such as stockpair for the security of my investment and personal info. i am afraid that if i will give my personal info. it will be used in some sort of fraud against me, etc…

    Actually, i am only working in saudi arabia and i am not a saudi citizen. is stockpair accepting traders from saudi arabia? as i saw in their site, they are accepting deposit using the method of Cashu and this is available here in saudi arabia. can you confirm to me?

    Also, my concern is regarding the withdrawal of investment just in case i made a profit. how’s the reputation of stockpair with regards to withdrawal issue?

  8. #8
    Master Member Bogdan G's Avatar
    Quote Originally Posted by sark View Post

    ... is stockpair accepting traders from saudi arabia? as i saw in their site, they are accepting deposit using the method of Cashu and this is available here in saudi arabia. can you confirm to me?
    Did you try asking them?

  9. #9
    Rookie Member
    Quote Originally Posted by Bogdan G View Post
    Did you try asking them?
    yes,, i just want to know something and asking for advise...

  10. #10
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by Rosen33 View Post
    My trading plan includes mostly mechanical trades and only when there is some major news anouncement and some discretion could be involved. There is a way to trade only discretionary, but it is much more difficult psychoogicaly because you need to be very patient and very calm in order to not trade based on emotion but only based on calm mind. That is also a probelm and I am not sure I could trade that way, mechanical systematic trading is better in many ways, but also it has some disadvantages and someties you are missing the biggest profits when trade only mecahnicaly.
    Often times the technicals will tell you how to trade and then, if you can wait for it, the news or events will provide a chance to get in.....

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