10% Skill 90% Mindset

JamesForexSlayer

Sergeant
Messages
220
I see this a lot and can see where people are coming from, however I actually find it is the trading strategies that I find the hardest....rather than the mindset.
 

nahiyar

Private, 1st Class
Messages
809
Each trader comes with different mindset in any business. It can be changed according to the time he passes in that business. We can not change business totally , have to follow that specific business rules or tricks. We can manage our mmindset accordingly. It means we learn skill to adjust ourself in trading atmosphere . Otherwise you will not get your targets. Skill has more percentage than mentioned here.
 

steveday76

Private, 1st Class
Messages
65
yes mindset is very important, especially when you first start as if you do not get that part right, you will fail as a trader
 

walpants

Recruit
Messages
78
mindset is definitely very important and is a big factor in whether we succeed or fail but im not sure skill is quite that lower %
 

bigdolly

Sergeant Major
Messages
994
mindset is definitely very important and is a big factor in whether we succeed or fail but im not sure skill is quite that lower %
Mindset sounds a bit vague and broad concept for me, can you explain what do you and other traders mean when you talk about mindset?
 

walpants

Recruit
Messages
78
Mindset sounds a bit vague and broad concept for me, can you explain what do you and other traders mean when you talk about mindset?
its about the psychology when you take a trade, being confident in what you have done and why you have done it, my worst battle i have with myself is cutting trades to short, soon as i see profit im looking to get out when actually if i trusted my analysis and let it run i would make far better profits
 

bigdolly

Sergeant Major
Messages
994
its about the psychology when you take a trade, being confident in what you have done and why you have done it, my worst battle i have with myself is cutting trades to short, soon as i see profit im looking to get out when actually if i trusted my analysis and let it run i would make far better profits
I agree but well, if you trade manually its difficult to remain calm because of every uptick or downtick produce a mix of emotions which can be very destabilizing and lead to trading mistakes.
 

DaveT

Sergeant
Messages
361
I agree but well, if you trade manually its difficult to remain calm because of every uptick or downtick produce a mix of emotions which can be very destabilizing and lead to trading mistakes.
I don't watch the charts after placing my trades. I put in my SL and TP and then close the chart...
 
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