In spite of incorporating widely successful trading strategies, sometimes we don’t succeed in the market.
Often, the reasons for such a loss can never be practically traced.
Why does this happen?
For most of us who begin our journey as a trader, we disregard the importance of trading psychology.
We duly follow the trading rules, various strategies, understand the use of charting softwares, however, we forget the role of trading psychology.
Understanding the importance of trading psychology can help in incorporation of new powerful skills that can result in holistic self-development.
It fine-tunes your thinking skills and allows you to make the right decisions in the market.
Market psychology and trading psychology therefore have extremely vitalroles to play in a trader’s life.
Self-Affirmations undertaken on a daily basis is a theory proven successful not only amongst traders but in varied walks of life.
For example, in educational institutions training workshops for teachers often incorporate a module in the importance of daily self-affirmations.
This is mostly because while being educators, the emphasis should not shift away from attempting to better oneself everyday.
Educators are asked to motivate themselves through daily affirmations to strengthen their spirits and equip them to handle their roles as imparters of knowledge.
In the same way, traders around the world struggle in the game of profit and loss without the required skills to keep one’s emotions in check.
As a trader, you can easily lose focus and get lost in the world of stock trading.
Seasoned traders around the world believe that at such times, only you can help yourself.
So, where does the strength to help yourself come from?
Does it suddenly come into existence at times of trouble?
The strength appears as a result of each thread of self-affirmation you weave everyday.
Australian Nial Fuller reaffirms the importance of daily affirmations in a trader’s life.
To keep up with such inspirational lessons in success, SMS brings you 10 trading affirmations that you can incorporate into your personal trading strategy, in order to inspire motivation and zeal.
“I can be successful. I have what it takes to be a successful trader”The hardest thing to face as a trader is coping with a sudden loss in trade.
How you deal with such a loss exhibits your worth as a trader.
Immediately after facing a loss, tell yourself that you can do better.
Loss is inevitable in every field.
But how you pick yourself up thereafter, moulds your future.
Telling yourself that you have what it takes to become successful has been considered as the best motivation.
However, remember to inspire confidence not over-confidence.
“ I know how to deal with risk management”
How many of you are aware of its importance?
Today thousands of people trade in the stock market and are aware of the risks associated with each trade.
However, most of us forget the importance of risk management.
SMS believes risk management is the “single most valuable lesson” in trading.
Therfore, our exclusive video elaborates on the importance of “risk management” – http://stockmarketsignals.com/single-valuable-lesson-trading/
“I don’t know everything in trading. I have to be a constant learner to beat the best!”
SMS has always emphasized on the importance of being a constant learner when it comes to trading successfully.
The stock market is a dynamic area which gives space for newer trading rules to come up everyday.
The only way to keep yourself abreast of new changes and opportunities is to constatntly learn and understand each of these changes.
These changes might or might not be helpful to you – but it is always safe to know what is going on around you.
“I won’t over trade or gamble– I will trade patiently and know when to stop”
As an aspiring trader, patience is the first virtue you must master!
Gambling or over-trading in the market is the biggest problem traders around the world face – and this becomes the main reason for major capital loss.
“I won’t be emotionally affected by my trading outcomes”
The first thumb-rule of trading is to keep your emotions at bay.
Always trade with your mind.
When you bring in emotions into play, trading becomes a taxing activity.
Every loss, every gain affects your mindset.
Trading outcomes may vary from time to time but always be sure of your trading plan – and that alone can lead you to success!
“I cannot let opinions in the internet or the news cloud my trading judgement”
The internet as a medium of reference features as a bane as well as a boon.
Not only does the internet sometimes provide us with the best of information but untrustworthy sources often leak misguided information on the internet, which could have an adverse affect on our actions.
In trading, steer clear of such sources.
Know your source of information well – validate before you believe in what they contribute.
Same logic applies to media and news.
While the news is a great platform to find out which stocks are faring well in the market during the day, following arguments and investment techniques discussed through media mostly prove troublesome.
“I will study daily market trends before taking a step ahead”
Another vital rule traders around the world follow is to map the daily market trends before zeroing in on certain stocks you might want to trade in.
Always think and plan a step ahead.
Make sure you follow your trusty trading strategy to the “T”.
Understand which stocks can prove beneficial for you and always make sure you trade with the dominant trend in the market.
Read more about trends here: http://stockmarketsignals.com/technical-analysis-fundamentals-use-trends/
“I understand the importance of gratitude in my life as a trader”
This word must have a meaning in your life as a trader!
Be grateful for the life you have – for the profits and losses you have gained which have made you the person you are today.
Everything is a learning experience and for each of this experience, show gratitude.
Learn more on “Gratitude” through our exclusive page: http://stockmarketsignals.com/gratitude/
Read more on such investment techniques and ideas here : http://stockmarketsignals.com/how-to-invest/