How to Become a Better Trader Through Psychology

When it comes to trading as a trader you will 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 trading psychology. To transform your trading psychology then you will require to write down rules which you will follow in your trading 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 & which does not.

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

MY JOB IS

To sit patiently and wait for my system to indicate that it's time to enter or it is 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 & getting in early are all common place and boil down to lack of faith in system and not having a burning desire on accurate trade execution.

GOAL: To have 100 Percentage undivided desire on mastering my 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 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 will start to follow your xauusd system & trade more like a Better Trader would if the system you are 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 are 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 trading system then you will be able to trade more like a Better Trader and follow the rules of your system & your trading will become more profitable.

Changing your trading psychology will not be easy and that is why as a trader you must constantly make an effort to follow the rules of trading psychology that you write on your plan until the time you master these rule and you 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 Courses and Lessons:

Trade Gold Trading

How to Become a Better Trader Through Psychology