An Entry Mindset with a Whole Lot Less Fear

 

The whole analysis process for a novice trader is aimed towards finding a winning trade.

Sure, they know intellectually that not all trades will win.

But surely this one… the one they worked so hard for… the one that all their analysis says is a good trade… it's just got to win!

And then they enter the trade…

An Entry Mindset with a Whole Lot Less Fear

Gripped by the fear that comes with every tick of price movement, they increase the risk of mismanaging the trade. They increase the likelihood of underperforming. And they risk potential damage to their self-belief.

What if there was another way?

What if you had a different mindset?

What if you stopped trying to find winners?

An Entry Mindset with a Whole Lot Less Fear

An Entry Mindset with a Whole Lot Less Fear

An Entry Mindset with a Whole Lot Less Fear

That's a key difference.

A novice is trying to find a trade that will win.

I'm trying to find an entry that is worthy of being one of twenty.

I don't need a winner.

I place all the odds in my favour. And I take the trade.

An Entry Mindset with a Whole Lot Less Fear

This is an entry that is worthy of being one of 20 within the group.

It doesn't need to be a winner.

The whole group of 20 needs to win.

So this trade just needs to get me off to a good start – profiting if it can, and just minimising the damage if it can't.

A slightly different mindset…. but with a whole lot less fear.

Happy trading,

Lance Beggs

 


 

Written by

YourTradingCoach - Admin

8 Comments to “An Entry Mindset with a Whole Lot Less Fear”

  1. Mohamed says:

    Nice article Lance , you just describe the only area which lead to success in trading , the trader mindset thanks ):

  2. Mjablo says:

    Keep doing great job Lance. You expain difficult things in so simple way. Thanks

  3. Gerhard says:

    Great article – again
    Great advice – again
    Love this combination of hard/technical and soft “facts”

  4. Kursat says:

    “And so every tick that price moves against them is like a knife in the heart. A reminder of their inadequacy. A resurfacing of all the pain of failure from throughout their life.

    And every tick that price moves in their favour, fuels the hope that this time they did get it right and that maybe, just maybe, they’re on the way to becoming a “real” trader.”

    I find EXACTLY myself on this quotation.

    I can not thank you enough for all these valuable sharings. Thank you Mr Lance.

    • Lance Beggs says:

      Thanks Kursat.

      There is a reason these quotations seem to describe your situation so well.

      It’s because EVERY trader goes through this. 🙂

      It seems that it’s just part of the journey.

      Cheers,
      Lance.

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