I talk a lot about the proper mental programming needed for someone to truly be successful at trading.  One important component of trading psychology is the art of not caring.  When I get in a trade I say, "I don't care what the market is going to do.  I made my decision based on my high probability trade setups and now it's the market's turn to do the work".  The more someone tries to trade, the harder it becomes.  

Trading should be effortless.  The absolute worst thing someone can do is chear their trade on… or hope for it to hit their target.  When that happens, the trader is no longer thinking objectivly and can miss important information being given to them by the market.  You have to be able to change your opinion in a fraction of a second and not let it have any affect on your ego… That's right, no ego!  In trading you can be "wrong".  Heck, I'm wrong almost 50% of the time.  But I know my risk management structure will make me profitable even if I'm right only 40% of the time.  And that gives me supreme confidence, which makes trading much easier!

Filed under: Thoughts, Trading by Chris Dunn