Thursday, June 1, 2017

Predicting the Future – Trader Psychology

New traders often assume that to become successful they must learn to predict the future…but the real job of the trader is to understand and capitalize on the present.

New traders study charts for long periods of time, focusing on long-term price movements and targets…but they miss the many lucrative opportunities that occur along the way.

Even worse…they miss the opportunity to learn from the price-action on the chart, never growing as a trader in the process.

What good comes from predicting the future if your account doesn’t grow, and you don’t build additional skills in the process?

Predicting the future is a fool’s game… because the trader cannot predict the changes in market objective and perception of value as each candlestick develops.

The most important work of a trader is to understand (1) who controls price, (2) where the current objective is, and (3) where the market is, in relationship to those objectives.

In other words… the most important work of a trader is to develop a strategy that will understand the present, and exploit that information as new opportunities present themselves.

“Forget the Future… Learn to Understand, and Make Profit on the NOW.” - Joseph James

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