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Jay Norris
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Jay Norris is a 20-year CBOT floor veteran, author of the Best Seller "The Secret to Trading Forex, Futures, and ETFs: Risk Tolerance Threshold Theory", "Mastering the Currency Market", McGraw-Hill, 2009, and "Mastering Trade Selection and Management", McGraw-Hill,... More
My company:
Trading University
My blog:
Seeking Alpha
My book:
The Secret to Trading Forex, Futures, and ETF's: Risk Tolerance Threshold
  • The Glass Ceiling In Trading 0 comments
    May 30, 2013 12:10 PM

    New traders typically hit the proverbial "glass ceiling" by failing to overcome their hang-ups with regards to one of more of three distinct functional areas: mindset, method, and money.

    Mindset

    A proper trading mindset can be defined as the ability to carry out a predetermined plan that runs counter to your own emotions and experiences. Another way of saying that is you do what you are supposed to do when the market tells you to do it.

    Poor trader mindset would be having no viable plan, or allowing emotions to cause deviation from the plan. A proper mindset follows sensible rules based on the environment, not individualism.

    Good trader mindset also means focusing on how the markets move through time, and not why markets do what they do. You do not need to master economics and current events to be a productive trader. The vast majority of traders in training spend too much time and energy trying to decipher why the markets do what they do, rather than understanding how the market moves through time.

    To read complete article go to:
    The 3 M's of Successful Trading

    Trading involves risk of loss and is not suitable for all investors

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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