Creating the right mindset!

Creating the right mindset!

28 January 2019, 02:30
Angelito Cartagena

Everyone that comes to trading has one goal in their mind which is to become a successful and consistently profitable trader, but as we all know it is the opposite that happens because 80 to 90 percent of traders in this market fail miserably somewhere along the way. Have you ever wonder why this thing happens? We may differ in opinion but for me it is all because most traders join in this market with the wrong mindset. Most traders joined in trading with only one focus which is to make huge profits in a short period of time, they think that the market is some sort of a get rich quick opportunity, while it maybe possible to achieve such goal but the problem is that these traders are not taking into consideration or ignored the risk involve to this kind of activities. 

This is in fact manifested at MQL5, as you notice signal providers that has huge growth in their account for the last 3 or 4 months are very popular to subscribers, why? it is because majority of traders want to grow their account in a short period of time, but it is also a fact that these kind of trading activity involve greater risk that it cannot provide sustainable results in the long run. That is why you cannot see these signals to last for a year of trading.   

If you really want long term success he must change your thinking and follow the path where most successful and great traders do. Think that your trading account is like money deposited in a bank that makes money in a yearly basis only it has bigger interest, while bank gives you around 1 to 2% annual interest, in trading you can easily get between 40 to 100% annual gains if your trading the right way. But the problem is that many traders do not view trading this way, they want to make huge gains every month in their trading only to loss everything in the long run. To traders with small account it is understandable that they will resort to high risk trading activities just to grow their account faster but the risk involve that can also easily wiped out their trading account. 

It is really a matter of choice if you gamble your money just to gain huge profits but if you want long term success in this profession you must follow the proper approach in trading which is to always follow good risk management approach and be a logical, focused, discipline trader at all times.

Long term success in this profession is just a matter of having the right mindset and it is only you that can make it happen!

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