Your Sure Way To Lasting Success In Trading
Why is it that a few individuals are successful in trading the markets? And why is it some folk fail? Is it luck that decides whether you are successful or not in making money from the market? Is it the system or method a person use which establishes their success?
A lot would say it is the system or system that they employ which at last figures out whether they come out winning from the market.
Every system that exists on the internet will show you how to make money using it. Without a doubt, it will make money for you. The question is usually how much money will the system make for you. All the system that out there will show to you how their system has work base on historical data or activity and then at the bottom of the page there would be a disclaimer clause that states '.. Historical data does not determine or guarantee future earnings....'
So why is it that these sites or page include this disclaimer clause?
The disclaimer clause is incorporated in it because they understand that there are particular elements which they can't control. Human feelings. Human feelings are always the key to either success or failure in any business. And it's no difference when trading the markets. Read all of the books about trading that you would like, buy all of the successful system that you need. If you are unable to control your feelings, you can not achieve success in the markets.
That is the cause of the disclaimers clause as the one thing the writer can not control is their customers or purchasers feelings. In the market there are but just two main feelings that each trader will experience ; fear and greed.
When this emotion appears it is not how we eliminate it but rather how we act on it. There are natural emotions that can not be eliminated. This emotions forces us to action, thus how we act on it will determine the outcome. Like anger, when we are angry at someone, it's either we say something nasty or we can just kick a bucket or we can just dive into a pool of water. Which ever action that we take, it produces a different outcome or result. All too often when we begin to see two to three consecutive loses on our trading activities, we would begin to have doubt. When this happens we are already at the state of fear, we fear losing more of our money and thus begin to doubt that the system is working. While no system is absolute, meaning no system will guarantee that you will make money ALL the time. The system seller would say that we would be able to make money consistently, provided we follow their system to the dot.
From an alternative perspective, when we start to see 2 or 3 consecutive we start to feel on top of the planet. We start to feel that we are able to start making serious money from the market and then start modifying the system or perhaps putting extra cash in the market to leverage our takings or perhaps start to take on more positions, which eventually make us vary from the system which we were using. This is when gluttony has stepped in to reign our thoughts. There's asserting 'The system is only as much use as the individual using it '.
So if we don't follow the system either with we are making loses or when we are creating profits. We would ultimately fail. And to follow the system requires discipline. The discipline to act on our fear and greed when it sets in, will determine how well we do in the market. Once again discipline is the key. We must have the discipline to say 'I have reached my target. I should take profits now even though it may go higher' when greed sets in. And when fear sets in one should say 'I have to take a position even though the market does not seem to be moving in my favor' While these are but two circumstances when greed and fears arises, there are, and will be many instances when we need to make a decision to either enter or exit the market. And these are very two most important decisions to take in order to succeed in the markets. The discipline to follow the system diligently no matter what happens to the market.
So regardless of how good the system is, the sole and sure way is to lasting fulfillment in the market rely on the self-control to overcome our private emotional to follow a selected system wisely.
Article Source: FxTradingStock.com
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by: Antoine Swedenborg
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Word Count: 801
Date: Tue, 8 Feb 2011
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