Being in this business for more than ten years now, we have seen all the patterns that are coming from successful and unsuccessful traders. The only thing that distinguishes the good traders from the rest, and by good traders, we mean traders that are consistently making profits in long term, is trading psychology.
There is a reasoning why there are no mentoring programs that are covering trading psychology out there. Many educators believe that trading psychology comes with years of experience and with the traders own development. We strongly disagree with that. Through the years we have educated enough successful traders to know that mentoring in this area is vital for creating good traders that will avoid mistakes we have made when we started trading careers.Â
Although this mentoring program is demanding for educators as much as it is for traders, we have developed transformation boot camp trading mentoring which will help all the traders no matter of their experience to transform their trading psychology by learning from their mistakes in emotional approach to trading.
The look from mentor’s perspective here is very important, because as much as we would like that, none of us is ready to look inside and be aware of the emotional attachment to trading, which is, in fact, the most important thing to overcome if you want your trading to improve and to make consistent profit.
A common mistake is not respecting the stop loss levels and widening them when you see that your trade is a loser. Also taking profits to early or locking the trades earlier than it is required is also damaging your trading success in the long run. Of course, we all have the dynamic approach to stop loss levels, and we tend to move them also but not 100 or 200 pips. Our rule is moving stop loss as up to 50 pips max. The same could be applied to take profit levels, but sometimes this is easier to say that to be done, and why is that? Answer-psychology.
There are numerous examples of the trading psychology issues we could discuss, but rather than discussing we have developed, a mentoring program that is aimed to transform your trading psychology. As an addition, you will have access to our membership section during the training.
Transform your trading! Get out of the group of the 95% traders that lose money!
