Traders own their business and set its direction and as leaders they must know how to run their business which is essential to their success, frankly, attitude and your trading mindset can spell your success or failure.
Statistically, 90% of traders lose money.
The trading mindset challenge is how to face up to the challenge of making it among th 10% who make it big in trading.
One way is to understand leadership principles and see how you are applying them to your own trading business.
First, you must know why you are in the trading business, what attracted you to it, what were your motivations and will you be seriously focusing your undivided attention to making it succeed?
Many say that it is money, excitement, challenge, power and a lot of other things. Imagine you got all of the things you wanted to get out of your trading business:
Setting your own trading mindset will help you get along the way, especially when your attitude comes into the picture.
What is your degree of discipline, how you tend to react to certain conditions and circumstances, who focused are you towards reaching your goals, do you give up easily,...