A trader\'s money management system

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c04 JWBK182-McDowell April 25, 2008 15:44 Printer: Yet to come

32 A TRADER’S MONEY MANAGEMENT SYSTEM

before you will attain all these traits, but it begins with knowing what the

qualities are that you are looking for.

HERE IS WHAT YOU’LL FEEL AFTER

ACQUIRING THE TRADER’S MINDSET

1.Not caring about the money

2.Acceptance of the risk in trading and investing

3.Winning and losing trades accepted equally from an emotional standpoint

4.Enjoyment of the process

5.No feeling of being victimized by the markets

6.Always looking to improve skills

7.Trading and investing account profits now accumulating and flowing in as

skills improve

8.Open minded; keeping opinions to a minimum

9.No anger

10.Learning from every trade or position

11.Using one chosen approach or system and not being influenced by the

market or other traders

12.No need to conquer or control the market

13.Feeling confident and feeling in control

14.A sense of not forcing the markets

15.Trading with money you can afford to risk

16.Taking full responsibility for all trading results

17.Sense of calmness when trading

18.Ability to focus on the present reality

19.Not caring which way the market breaks or moves

20.Aligning trades in the direction of the market, flowing with the market

FIFTEEN DESTRUCTIVE

PSYCHOLOGICAL TRADING ISSUES

AND THEIR CAUSES

This list of 15 obstacles to attaining The Trader’s Mindset is useful as a

reference in troubleshooting. Review this list when you are experiencing