Mark Crisp - 7 Habits Of A Higly Sucsessfull Trader.pdf - ksiazki gielda - sir_luksik

7 Habits

of a

Highly

Successful

Trader

Mark Crisp

http://www.stressfreetrading.com

Table of Contents

1. Take Complete Responsibility:

2. Have a System That fits You:

3. Plan a Trade and Trade a Plan:

4. Work Hard at Learning How to Trade Properly and Keep Working:

5. Positive Self- Belief:

6. View Trading as a Score in Points and Not In Money:

7. Keep trading as Part of a Balanced life:

8. CONCLUSION:

1) Take Complete Responsibility:

For the successful trader knows every action he takes, every decision

he makes he ,and only he, is responsible for that action.

You will never meet a successful trader who is looking to blame

someone else, or something else for the consequences of his results.

It just will not happen.

You see, when you accept 100%, no questions asked responsibility

for all your actions you close the door to "excuses" behind you. When

something goes wrong instead of looking for someone else to shoulder the

blame, you will accept responsibility, note it down and vow never to

repeat it again. Simply, you are willing to accept you are going

to make mistakes, but more importantly, you are going to learn and never

repeat those mistakes. A vital component of any winning trader.

Could you imagine Warren Buffet losing a few million $$$'s on a

share trade and then blaming the general conditions of the market.

Or blaming his broker for giving him dud advice? no way! Just not

going to happen. I will guarantee when top traders takes a loss the

first thing they will ask them-selves is "Did I follow my rules?"

If the answer is yes, then they will look at their rules. Is there

something that could be changed in their rules to avoid this loss again?

Many times the answer will be a re-sounding no.

On the other hand, if after asking the question "did I follow

my rules?", If the answer is NO. Then some deep self explanation will

be called for. Why did I fail to follow my rules? How can I stop

my-self from doing that gain? Am I likely to do that gain, etc..

But do you notice the wording of the questions? How can I,

Will I, Why did I. IIIIIII Here the trader knows he takes total

responsibility for every trade and is seeking re-assurance that

he will not break the rules again.

There's an old saying in trading:

" If you have to ask you shouldn't be trading"

Think about it. If you have a system that you have tested

and proven over the long run that it does outperform the market

and it is a system that fits you, why will you EVER have to

ask for an opinion? What extra will a third party opinion provide?

Apart from confusing you and clouding your opinion?

If you are a long term trend follower then why ask a day trader?

If you are a value investor then asking a momentum trader will be a

total waste of time. What I am saying is, no two people have the same

opinion. Why would you believe some-one else over your trading rules?

It's a fact of life, and even more so in trading, most people want

to be told what to do rather than acting on their own. Yet this is a major

reason most people fail in the markets. Either accept total

responsibility for your trading action or do not trade at all.

If your number one rule is

"to follow your rules" why will you need to ask a guru what

they think of your position? If you EVER find your-self wanting

to ask a third party about your position do this:

* Close the position out.

* Review your plan and rules.

* Work out why you lack the responsibility to follow that plan

* When you are convinced you don't need a third party opinion

start trading again.

How can a trader learn to accept total responsibility?

Have a set of rules and realize THE most important point in

trading is following those rules. Once you have a set of

firmly established rules you will find your-self not having

to follow out-side opinion. In fact I go to great lengths

not to listen to outside opinion. Simply because, I know

by following my rules I will be on the right side of the

market 95% of the time and I will never miss a big move.

Those kind of figures are much better than any out-side

source can give you.

So from today, learn to take total responsibility

for all your trading decisions. Strive to develop and

then religiously follow a set of trading rules, knowing

it is the importance of following those rules that

ultimately determines whether you will win or lose in

the long run.

If you ever find your-self thinking, "they did this"or, "the market caused

that loss." Change it to: "Did I follow my rules?" If the answer is yes pat

your-self on the back as you are on your way to becoming a market

winner (one of the minority). If the answer is NO find out why and strive

never to repeat this error again.

Accept total and utter responsibility for every

trade you take from today and you'll be amazed at

how easy trading really is.

Mark Crisp - 7 Habits Of A Higly Sucsessfull Trader.pdf

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