by Candy Schaap© 2008 May be reprinted with permission.
Do patterns matter? They can. Decide what you want and believe it’s possible and then make the changes necessary to get there. If you want something different, then you have to DO something different and that means changing a pattern of activity. We fall in love with our opinions and beliefs and habits, and then there is no room for change or growth.
Commit to constant improvement, and while I am talking about trading, this is really a reflection of lifetime patterns. Our patterns will deliver results, so make sure you have good patterns. You are 100% responsible and that gives you the power to achieve your wildest dreams.
He follows the rules.The ‘market’ is different from everything we learn in the usual way. The successful trader knows this and will follow, rather than lead. (Except maybe, the way to the bank!) He knows he does not make the rules, so he learns the rules and then follows them. Price leads, the successful trader follows.
He practices self management. The successful trader has complete control over his own actions. He has no expectations, but of himself. He makes no expectations of the chart; he expects only that he will execute the trading plan. The only one he looks to is himself. He manages information and he manages the risk.
He uses his Trading Plan. The professional trader is profitable using the same chart and indicators as everyone else and produces better results. His trading plan is based on his own abilities and personal risk tolerances. The successful trader chooses to do what he is able to do rather than what he wants. In this way he chooses to be successful.
He appreciates himself.He is self aware, the good, the bad, and the ugly. He fearlessly looks into the mirror to know his own abilities and limitations. He knows that responsibility for financial and mental health lies solely with him. He then builds a trading plan that honestly takes advantage of his strengths and protects from his weaknesses.
He has no opinion.He is prepared for whatever direction price takes because he has no fixed thoughts either for or against. Thus, the successful trader asks the right questions and can wait for the answers that will lead to profits.
Candy Schaap
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