TRADER'S MANTRA

Beliefs and Attitude of successful Traders and Investors

" I have a carefree, confident state of mind. I don't trade to be right, prove anything, win, or avoid losing. I don't trade to get money back or take revenge on the market. I have no agenda than to let the situation unfold in any situation it chooses and I simply take advantage of the opportunities it makes available to me.
" I don't expect the market to make me right. I don't expect the market to make me a winner. I don't expect the market to keep going in my direction indefinitely. I don't expect to get every bit of the profitable trade that is available. I don't expect to take advantage of every opportunity just because it presented itself.
" I am a consistently successful trader
" Everything the market is about to do, the market will show and demonstrate to me without me having any thoughts, beliefs, or perceptions about what it likely to do.
" The market doesn't do want I want, it does what it wants. I perceive what the market is offering from its perspective. Therefore I am flexible in my expectations.
" The market can do anything it wants, when it wants. Anything can happen, at anytime. We can't read the minds of all the other traders and institutions so anything could happen. There are no exceptions to this truth.
" I don't need to know what's going to happen next to make money overall.
" Every moment in the market is unique.
" The market has no responsibility to give me anything or do anything that would benefit me, regardless of my position, risk or desire. The market does not care, it presents its information in a neutral fashion. It has no meaning other than the meaning I give it.
" More market analysis will not improve my results, only improving my perspective, behaviour, beliefs and attitude will.
" Patterns repeat themselves in the market, but not every time.
" Making money consistently and keeping it is a by product of acquiring and mastering certain mental skills.
" Prices move based on traders and investors future beliefs and present value, thus the price move is unlimited at any given moment. Support, resistance etc. are only constructs and not reality of what the market will do.
" I trade with a systematic way of winning not to prove anything to any one or myself. It doesn't matter if I'm wrong or right. I trade with a "lets see what happens" perspective and focus on winning.
" I always, no matter what, stick to my trading, money management, position sizing rules
" I predefine the risk of every trade
" I pay myself as the market makes money available to me
" I do not need to understand how the markets work to be a consistent successful winner. It a probability game and I don't know weather the next trade will be a winner or looser, and how much the market will offer me when I win.
" I know that based on the markets past behaviour, the odds of it moving in the direction of my trade are excellent, at least in relationship to how much I am willing to spend to find out if it does.
" I am certain that I do not know what the market is going to do next, but I do know without a shadow of doubt that I have a great edge. My edge is nothing more than an indication of a high probability of one thing happening over another.
" The odds are in my favour before I put on a trade. Trading is a probability numbers game.
" Every loss put you closer to a win.
" I know what my edge looks like and thus what I am going to do, but I do not know what the market is going to do this time.
" I am solely responsible for my profitable or limited loss trades and take full responsibility. I am responsible for my success or failure.
" I act on my edges without reservation or hesitation
" I do not know the outcome of my next trade, as the outcome of the trade is unpredictable.
" There is a random distribution between wins and losses for any given set of variables that defines an edge
" I except all the risk of each trade without emotional discomfort or fear. There is not anything to fear. Being wrong, losing, missing out or leaving money on the table is part of the game. I just make myself available to what I perceive as an opportunity and act on it to the best of my capabilities.
" Losses are only part of the game if I want to win overall. Like a restaurateur must buy food to sell it, and some off it will be wasted in order to make an overall profit.
" I focus on the now as how the situation unfolds is unbeknown and thus anything could happen
" I know without any doubt at all, before I get into any trade l know how much I am willing to risk, and I am willing to let the market move against my position. There is always a point at which the odds of success are greatly diminished in relation to the profit potential. At that point, it's not worth spending anymore money to find out if the trade is going to work. If the market reaches that point I know without any doubt, hesitation, or internal conflict that I will exit the trade
" Losses are simply the cost of doing business or the amount of money that I need to spend to make myself available for the winning trades.
" When I put on a trade, all I expect is that something will happen. Regardless of how good my edge is, I expect nothing more than the market to move or express itself in some way.