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10% Skill 90% Mindset

Discussion in 'Beginners Bootcamp' started by johngerwin, Jan 25, 2019.

  1. JamesForexSlayer

    JamesForexSlayer Corporal

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    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.
     
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  2. nahiyar

    nahiyar Private, 1st Class

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    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.
     
  3. steveday76

    steveday76 Recruit

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    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
     
  4. walpants

    walpants Private, 1st Class

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    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 %
     
  5. bigdolly

    bigdolly Sergeant Major

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    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?
     
  6. walpants

    walpants Private, 1st Class

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    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
     
  7. bigdolly

    bigdolly Sergeant Major

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    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.
     
  8. MikeMike

    MikeMike Recruit

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    Indeed it is so
    Also remember Pareto principle - 20% give you the result, 80% nope
     

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