5 tips for better trading performance

Most traders are grossly underprepared for trading.

They struggle for years, generating substantial losses. Most then give up. Why?

And how can traders be better prepared to accelerate their progress?

Here’s 5 tips from trader performance psychology coach Rande Howell:

The rules for success in trading are VERY different to those outside trading.

Success in business is about making things happen. Alpha mentality.

In trading, you can not make things happen.

You do not control the outcome.

Alpha mentality in trading ->

Blowing up.

Most traders bring a mindset that wants to avoid uncertainty.

But, within uncertainty are your profits.

Experienced traders recognized they’re the obstacle to their success…

So they rebuild their mind to work in probabilities rather than certainties.

Traders must realize they cannot control the outcome.

It’s just an illusion.

Focus only on what you can control…

The process and the mind you bring to the markets.

Traders try to overcome fear with courage.

However, the antidote to fear is not courage. It’s compassion. Compassion calms everything down. It reduces the fear of making a mistake.

And transforms the mind from scarcity thinking into probability thinking.

Traders should trade without fear or euphoria.

Feeling good while you trade can distort your thinking.

Traders with too much euphoria tend to minimize the risk.

Instead, aim for “discipline impartiality”, to see in a way that effectively manages probability.

In summary, traders need to accept:

-> Alpha Mentality in trading doesn’t work

-> Traders need to rebuild their mind for uncertainty

-> Focus on the process not the outcome

-> The antidote to fear in trading is not courage, it’s compassion

-> Avoiding trading with fear and euphoria

Watch my full discussion with Rande:

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