Investing for Beginners: 4 Books Manuscripts: Swing Trading Strategies Volume 1, Swing Trading Strategies Volume 2, Stock Market Investing for Beginners, Options Trading by Victor Lucas

Investing for Beginners: 4 Books Manuscripts: Swing Trading Strategies Volume 1, Swing Trading Strategies Volume 2, Stock Market Investing for Beginners, Options Trading by Victor Lucas

Chapter 1: The Mindset of a Trader
There is a good reason why trading is not for everyone. Statistics show that
the majority of those who attempt a career in trading is not successful. This
leaves us with a burning question...what is the cause of so many failures? Is
it because they lack experience? Is it because of the intensity of the trade
itself? Or is it because they don't have the right knowledge?
The answer is probably yes to all of those and the answer could also be no.
Every day, thousands of traders enter the market; some win and some lose.
We all know exactly what happens when we win and make a pretty good
windfall, but how we react when we lose is another matter entirely.
Ask yourself, what do you do when you lose or make a poor investment
choice? Some people may get discouraged, blame their losses on the
volatility of the market and declare it as a waste of time. Another may also
get discouraged and want to quit but, the next day they somehow find a
renewed experience and are ready to try again. But the true trader will see
the loss as a reason to ask more questions and do more research. Yes, they
will be disappointed by their losses but, rather than let that loss be a
stumbling block, they will use it instead as a stepping-stone. They will view
it as an opportunity to revisit their data, reevaluate their position and find
out what went wrong. In essence, they will use it as a learning opportunity
and see it as becoming a better trader in the future.
Yes, the loss may have been a result of a lack of knowledge, limited
experience, or even just bad decisions but, in a trader’s mind, the reason for
losing a trade is not as important as how they react to that loss.
To be able to do that, a good trader must learn how to keep their personal
feelings completely out of the trading process. When you are emotional, it
can taint your perspective of trading and affect your judgment. Traders must
have an almost mechanical approach to every decision they make.
While all traders are in it for the money, the best ones are in it for the thrill
of the game. They are not just following the charts to see whether they are
going up or down but, are equally interested in perfecting their skills of
analysis with every decision they make. They view everything as a real
learning process.
When you trade you must make decisions quickly and be willing to stick to
them and follow through with everyone. Each time you look at the charts,
graphs, stocks, and other data, you may have only seconds to decide to get
in or out of the market, there is absolutely no time for emotional
involvement.
This means you need to be mentally stable, but many would be surprised to
learn that you also need to be in good physical condition as well. They do
not understand that good physical conditioning can actually support your
mental acuity. Eating well, getting good physical exercise, and maintaining
healthy habits actually supports your mental faculties, which could easily
impact your choices when it comes to making good trading decisions.
People who have poor health may not realize how their physical condition
could have an adverse effect on their decision-making process.

Investing for Beginners: 4 Books Manuscripts: Swing Trading Strategies Volume 1, Swing Trading Strategies Volume 2, Stock Market Investing for Beginners, Options Trading by Victor Lucas