Learning to day trade doesn’t have to be a difficult process, but for most it is. Why? Because all too often people don’t realize the ultimate secret that unlocks successful trading: the realization that the key to your success is within “you”, not your “trading system”! People spend thousands of dollars and countless hours in books, seminars, training programs, etc to learn the next hot chart indicators and strategies, but fail to understand that they will never be successful if they don’t develop iron clad discipline and a psychologically sound trading perspective.
As I was learning to trade, a friend of mine always told me, “Systems work, people fail. It’s just that simple.” Although I understood what he was telling me, I never really internalized it until a year out into my trading venture. Then one day it clicked. I realized that I need to get myself to the point where I am more concerned with whether I follow my trading plan exactly than whether I make or lose money. Once I got to that psychological perspective, winning in the markets became easy.
You see, all trading systems are strategies designed to put probabilities in your favor. No system is 100%, but the key is to find a system that fits your personality and goals so you can be comfortable and confident with the strategy you are using. The rest is becoming almost like a robot, trading that system exactly over and over again. The part that sounds the easiest (trading your system exactly over and over) is really the most difficult. Many different psychological forces affect traders at heightened levels. The stress of trading is intensified when you are facing the reality of making or losing money based on your perceptions of the market. The trader who doesn’t understand this concept can easily let emotional and psychological forces cloud his or her judgment, causing them to make trades outside of their trading plan, and ultimately hurt their success.
Unfortunately, about 95% of traders fit into this category of never finding the psychological perspective and iron clad discipline necessary to create long-term success. Most of these traders fail thinking their systems didn’t work and that it is impossible to succeed in the markets. They never understand that “they” are both the “problem” and the “solution”.
So, it doesn’t matter so much what trading system you use, as long as you are comfortable and confident with it. The real key to your success is whether you will develop the discipline and perspective required to trade it exactly over and over despite the psychological and emotional forces of the market. Long-term trading success will come from within you, not your system. Remember, “Systems work, people fail”.
Author Resource:-
Jared Erni learned to successfully trade the markets using KISSystem signals, developed and taught by Scott Walker, founder of KISSystem (Keep It Simple System). KISSystem is designed to teach beginners how to identify simple trading signals to succeed in the markets. To learn more, visit www.LearnToWinTrading.com. Find more on Learn to Trade Futures: The Most Important Key to Successhostgator discount
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