When a beginner wins he feels brilliant and invincible Then he takes wild risk and loses everything.

When a beginner wins he feels brilliant and invincible Then he takes wild risk and loses everything.

To be a good trader, you need to trade with your eyes open, recognize real trends and turns, and not waste time or energy on regrets and wishful thinking.

Traders lose because the game is hard, or out of ignorance, or lack of discipline or because of both.

Amateurs look for challenges; professionals look for easy trades. Losers get high from the action; the pros look for the best odds.

Many traders ride an emotional roller coaster and miss the essential element of winning: the management of their emotions.

Successful trading depends on the 3M`s - Mind, Method and Money. Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology their own feelings and the mass psychology of the markets. Each trader needs to have a method for choosing specific stocks, options or futures as well as firm rules for pulling the trigger - deciding when to buy and sell. Money refers to how you manage your trading capital.