Take control of your emotions!

You can not be a successful trader if you are trading with emotions. Under the trade with the emotions we have in mind a situation where greed and fear dominate when making trading decisions. You can not trade successfully if greed and fear rule your trading. You lose all your money and rather quickly. And this - the main reason why 90% of traders lose money.

Follow your method

Emotions keep you from action at a time when action is necessary. They force you to act in a completely wrong times. Therefore, the very first thing you must learn by heart, anyone who wants to become a successful trader - is to learn to overcome the emotional impact on trading. We usually call this bridging discipline. This primarily means that you have to have some method and act in such a way as to follow this method in all conditions. The most successful are those methods that give the user three key elements:

- A clear and definite reason to enter the position;

- Clear and defined according to the calculation to exit positions in worst-case scenarios (stop loss);

- A clear and definite reason for leaving the position at a favorable scenario (goal).

Let's say your method is to follow the recommendations of a site - well, that's good. The first problem in its application is that you simply do not follow the method. Most likely, you just follow the advice only some of all that is given, and the others are ignoring. In other words, you follow a particular method, but "impermanent." The reasons why you choose tips for action seems to have emotional roots. Emotions are part of the reason why you do not strictly adhere to the selected method.

In my opinion, if you strictly follow the method will definitely benefit, but - almost regardless of the method.

Technical methods and market factors

Now let's talk a little bit o technical methods and the factors of the market. The meaning of technical methods is not in anticipating and predicting the behavior of the market, as many people think, and in the development of accurate information upon which to act, and at the same time monitor the impact of emotions. The trick is this: the so-called fundamentals do not give exact numbers, based on which, the trader can act.

Therefore, the fundamental factors, such as interest rate, driven by the conviction. And the techniques allow us to obtain precise point at which should act regardless of beliefs. It follows that the use of technical analysis (with no attempt to anticipate) provides rational basis for action on the basis of accurate information regardless of the trader's beliefs. And it allows you to isolate the effect of emotions. It becomes clear as to why the foresight of market behavior is by no means necessary for successful trading.

We're talking about the methods that do not try to predict. These methods are meant to give the trader entirely clear instructions on how to act when and if it turns a certain situation. If you have the exact figures on which to act (and you know that you will do if they see it), you can better focus on these "important numbers" and not be influenced by "not important numbers." Suppose, for example, your paper is trading at $ 20, and the method of purchase orders if the price reaches $ 25, or open a short position if the price falls to $ 15.