CosmasMoses replies to: Can YOU make money as a professional trader – Redux

Don’t believe every thought you think. I will say that even stronger, don’t believe any thought that you think. Like anyone elses posts on this forum, where is the proof that your thoughts are correct?

This is very important. When it comes to trading, 95% will fail. Yet inside our heads, we think we are the special ones, the 5% that are winners. Get that thought out of your head unless your account shows otherwise.

I know in life, positive thinking does work. We will attract that which we dwell upon. “The Secret” is a movie based on that very premise, we will attract what we think. As one author states, “Thoughts become things.” But the trading world does not work that way. You can’t “attract” money into your account. You have to earn it.

You have to be like the tiger, waiting in the tall grass (ie holding no positions) and wait for your prey to get close enough for you to attempt to capture it (like waiting for the pin bar and the reversal candle). And like the tiger when it misses the prey, it does not keep chasing (holding losers that have signaled a turn against your premise), the tiger gives up and goes back into the tall grass (holding no positions) and waits for the next opportunity.

Your account balance will tell you if you are the 1 in 20 people that will make it in this business. If you are constantly taking money out of your account, congratulations – you are part of the 5%. If you are constantly putting money into your account, you are still in the 95% who lose at trading.

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