How to Become a Better Trader Through Psychology

When it comes to as a trader you'll need to execute your xauusd trades like a Better Trader, without any emotions, or without being swayed by xauusd price movement that the price has moved up so much that you now need to open a buy trade because the up move has really moved some pips.

So to trade like a Better Trader as a trader you need to transform your psychology. To transform your trading psychology then you will require to write down rules which you'll follow in your plan.

The example shown & described below portrays how to write the trading psychology rules

MINDSET/PSYCHOLOGY

Trade without Emotions (greed, fear, anticipation, impulse, bias, over-excitement)
I trade what my eyes see & not what I feel.
I will be patient.

My job description isn't to be the xauusd trading system!

It's not to decide which trade transactions looks promising and which does not.

That's the job of my xauusd system. My system has got a set of trade rules which tells me this is what I follow. Don't get caught up on xauusd gold price action and make trading rules as you go along.

MY JOB IS

To sit patiently & wait for my system to reflect that it's time to enter or it's time to exit. And then with extreme focus I execute trade as planned.

Taking trades not given by trading strategy, second guessing system & not taking trades given, hesitating and getting in late, anticipating and getting in early are all common-place and boil down to lack of faith in system & not having a burning desire on accurate execution.

GOAL: To have 100 Percentage undivided desire on mastering the ability to execute my gold trading system accurately.

The more you develop your ability to step back from xauusd price movement & watch the market dis-passionately, waiting for a trade signal to trade, the easier it'll be to witness the fluctuations of your trading emotions without being sucked into them & allowing them to throw you off your trading game.

By writing gold psychology rules like the ones above then as a trader you'll start to follow your xauusd system & trade more like a Better Trader would if the system you're gold trading with was to be automated.

The more you follow these trading psychology rules the easier it'll become to trade the market without being influenced by the various market movements.

Always make sure that you're opening a trade because the guidelines of your system have been met and a signal has been generated and not because you have seen the market jump and so now you decide it is time to buy.

By following a system then you will be able to trade more like a Better Trader and follow the trading rules of your system & your trading will become more profitable.

Changing your trading psychology won't be easy & that is why as a trader you must constantly make an effort to follow the trading rules of trading psychology that you write on your plan until the time you master these rule and you as a trader can now trade the market without emotions and trade like a Better Trader.

To learn more about gold psychology read the following psychology guide

Gold Trade Psychology for Traders.

More Guides and Lessons:

Trade Gold Trading

How to Become a Better Trader Through Psychology