Psychology of long term forex trading – Trading the plan

May 22nd, 2009 by admin


Belief Statement from a professional CME Floor Trader
For those of us that are battling our psyche, emotions, the little man inside our head and the guy in the mirror when we are trading, I use a Belief Statement I got from a professional CME Floor Trader. I read it before each trading session and find it particularly calming after having a couple of losing trades or when I reach my maximum allowable loss.

I made the mistake of questioning the $1 million target and was very quickly rebuked as “not having the confidence or belief in myself” so I just read it as copied:

Quote
I am a professional trader. My job is to take risk. If I manage my losses and let my profits run I will be successful. Because I am a professional trader, I will forgive myself easily for making mistakes and move on to new opportunities. I feel great that I have the discipline to control my emotions and the patience required to be a professional trader. I am a professional trader and will make $1,000,000 by year end. I will achieve this by following my trading plan, setting achievable goals, and controlling my emotions. I am confident and believe in my own ability to be consistently profitable because I AM a professional trader.
Unquote

Hope you find this helpful

Rock n Roll,
Strat

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