A trade is all around us and is a major economic factor to drive our society to get faster and better. It is necessary things to be done to improve our economy. However, there are always winners and losers in this world.
When I was a young, I saw people on TV that they were making millions of dollars a day and having a great smile and always tempted me to be one. On the other hand, my dad was making less than $100,000 annually and barely make ends meet taking care of his family. He was most of the time being grouchy and drinking beers and sake to finish a day with a thought and worry about lacking of money constantly. I love my dad but I want to create a different lifestyle that I don't have to suffer from any financial difficulties. Honestly, I never thought that I would be able to make money easily and quickly because I have been taught that to make money, hard work is always necessary. However, there is another truth that I was able to prove. Truth, hard work may not necessarily bring you financial security but working hart smartly will bring you financial freedom. I would like to introduce how I have accumulated money although it is not easy because there is no ON or OFF switch in my life. People get on when they are working 8-5 and off afterward although this is a business that you cannot slack off 24/7 if you want to be a great trader.
One of the ways to make money is to win in trading. if you don't win, you lose meaning that someone would take your money and you become miserable. However, if you successfully win and maintain winning your trades over a long period of time, you could accumulate wealth and create a lifestyle you want to have.
Rules to follow, If there is no rule there would be an awful consequence or fail repeatedly until your principle becomes 0. It is your choice to follow my rule or not. If you follow it perfectly without violating it not even once, you would more likely accumulate your assets!! Let's become a disciplined trader.
I read a book called "The Disciplined Trader: developing winning attitudes" This was written by Mark Douglas and discovered to be incredibly useful and beneficial to my trading. It describes exactly what I was struggling from when I could not keep winning. I did win, I was able to win and the best day was making over $10,000 a day. It is a great feeling that that makes you feel like I am the best trader and keep this as a job and become a millionaire within a year or so. There is always a pitfall when you have the feeling like this. When you win this much of money a day, you would definitely lose the same amount or more sooner or later.
I now sincerely feel that success in trading is 80 % psychology and 20 %one's methodology.
If you have a mediocre knowledge of fundamental or technical information but if you are psychologically in control, probably you would be able to make money. On the other hand, you may have a great system (it has tested and proven to perform well) yet if the psychological control is not there, you will be the loser.
Confidence and Fear
People must have gained some measure of confidence in themselves to respond appropriately to all possible market conditions because there is a direct correlation between a person's level of confidence and the negative emotions. Negative emotion impacts significantly on your trades, like anger, stress, anxiety, and fear. Confidence and fear are states of mind that are similar in nature, only separated by degree.
Thinking Methodology
It is very difficult to change how you think because your thinking process has been made from your experience, from your friends, and your family, and the surrounding environment. Have you seen people being told to walk barefoot over a 20-foot bed of red-hot coals? Then They did without getting injured. The people who developed the method to make it possible did so on the assumption that achievement of people who do things very well and excel beyond what other people of the same culture of society would consider possible to do so as the result of a specific way they think. A methodology in which their beliefs are in some way different from everyone else's. This methodology can be taught and pass it down to people who have the same or similar will to overcome some obstacles. The way of thinking has to be made to be a great trader to differentiate yourself from the others. Truth, if you start questioning yourself some of your beliefs and probe deeply rooted concepts of what is possible and exposing yourself to information that may cause you to ask yourself "what if it were true" is the first step to any mental cleaning process.
For example, the market is like an animal it is always changing, changing without having any structure, in perpetual motion, with an unlimited potential for profits as well as loss in every trade.The psychological impact on the individual interacting with such an environment is formidable-especially when you consider the many ways in which all of us usually go about structuring our lives with high defined boundaries, limits, and rules, so things stay basically the same.
For most people, static environment is a fundamental component of their sense of security and well-being. What the market does is not only destroy a perosn's sense of security by forcing the trader to confront, on a moment-to-moment basis, his lack of acceptance of change, but they also produce an emotional environment of considerable competitiveness and stress. There is the compulsive need to win millions, with the simultaneous fear of financial devastation.
Making a lot of money in minutes or seconds could be possible. Truthfully I was able to make almost $40,000 from $ 2,000 within three weeks with cryptocurrency(https://www.successfinancialfreedom.com/2018/01/05/40000-profit-3-weeks-no-risk-investment/). However, whether you're aware of it or not, most people grow up with highly structured belief systems about the conditions under which we deserve to receive money. It may be childhood condition or religious belief that they don't deserve money if they didn't work for it. The principle of time, efforts, and reward associated with most job situations simply do not apply with the markets at all.