Indices Trading Machine
How to Become a Stock Indices Trader Through Indices Trading Psychology
When it comes to indices trading as a trader you will need to execute your stock indices trades like a indices trading machine, without any emotions, or without being influenced by stock indices trading price movement that the stock indices trading 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 trading psychology then you will require to write down rules which you will follow in your indices trading plan.
The example explained and illustrated below shows how to write the indices trading psychology rules
- 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 is not to be the indices trading system!
It is not to decide which trades looks promising.
That is the job of my indices trading system. My system has a set of rules which tells me this is what I follow. Do not get caught up in stock indices price action & make rules as you go along.
MY JOB DESCRIPTION IS
To sit patiently and wait for my system to indicate that it is time to enter or it is time to exit. And then with great focus I execute trade as planned.
Taking trades not indicated by the trading system, second guessing system and not taking trades given, hesitating & getting in late, anticipating and getting in early are all common place & boil down to lack of faith in system and not having a burning focus on accurate execution.
GOAL: To have 100% undivided focus on mastering my ability to execute my indices trading system accurately.
More you develop the ability to step back from stock indices trading price movement and watch stock indices trading market dispassionately, waiting for a signal to trade, the easier it will be to witness the fluctuations of your emotions without getting sucked into them allowing them to throw you off your game.
By writing indices trading 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 follow these indices trading psychology rules the easier it will become to trade the stock indices trading market without being influenced by the various market movements.
Always make sure that you're opening a indices trade because the rules of your trading system have been met and a signal has been generated and not because you have seen the stock indices trading market jump and so now you decide it is time to buy.
By following a indices 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 trading psychology will not be easy and that is why as a trader you must constantly make an effort to follow the rules of indices trading psychology that you write on your indices trading plan until the time you master these rule and you can now trade the stock indices trading market without emotions and trade like a indices trading machine.
To learn & know more about indices psychology read the following indices psychology tutorial
- Indices Trading Psychology Guide
- Indices Trading Psychology & Emotions Fear & Greed
- Indices Trading Psychology Principles
- Learn Indices Trading Psychology
Indices Trading Psychology for Indices Traders.
