Indices Trading Machine
How to Become a Stock Indices Trader Through Indices Psychology
When it comes to indices trading as a trader you will need to execute your stock trades like a indices trading machine, without any emotions, or without being swayed by trading price movement that the price has moved up so much that you now need to open a indices buy trade because the up move has really moved some pips.
So to trade like a indices trading machine as a trader you need to transform your indices psychology. To transform your indices psychology then you will require to write down rules which you will follow in your indices plan.
The example explained and illustrated below shows how to write the psychology rules
- Trade without Emotions (greed, fear, anticipation, impulse, bias, over-excitement)
- I trade what my-eyes see not what I feel.
- I--willI'll be patient.
My job description isn't to be the trading system!
It's not to decide which trade transactions looks promising.
That is the job of my trading system. My system has a set of rules which tells me this is what I follow. Don't get caught up in price action & make rules as you go along.
MY JOB DESCRIPTION IS
To sit patiently and wait for my system to indicate 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 the system, second guessing system & not taking trades given, hesitating and getting in late, anticipating and getting in trades early are all common place & boil down to lack of faith in system and not having a burning focus on accurate trade execution.
GOAL: To have 100 Percent undivided desire on mastering my ability to execute my trading system accurately.
More you develop your ability to step back from trading price movement & watch trading market calmly, waiting for a signal to trade, the easier it'll be to witness the fluctuations of your emotions without getting sucked into them allowing them to throw you off your game.
By writing indices psychology rules like the ones above then as a trader you'll begin to follow your stock indices system & trade more like a indices trading machine would if the system you are indices trading with was to be automated.
The more you as a trader follow these indices 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 trading 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 indices trading machine and follow the rules of your stock indices system & your trading will become more profitable.
Changing your indices psychology will not be easy and that is why as a trader you must constantly make an effort to follow the rules of indices psychology that you write on your indices plan until the time you master these rule and you can now trade the market without emotions and trade like a indices trading machine.
To learn & know more about indices psychology study the following indices psychology tutorial
- Indices Psychology Guide
- Indices Psychology & Emotions Fear & Greed
- Indices Psychology Tutorial Lines
- Learn Indices Trading Psychology
Indices Psychology for Indices Traders.
