'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**

Wednesday, February 15, 2012

In Trading, It is Also Important To Watch Yourself

The market drops today even though there are some positive news about the Greek problem, Chinese pledge and some economic calendar events.

But for some other reason, the market went south and the unfavorable minutes of meetings that came out from the Fed.

Today's market was a bit tricky to trade.

The market leap vertically in the overnight session and drops like a falling debris from the outer space.

Unless you have a crystal ball or a psychic that can predict where the market goes, it's all about riding it and anticipating where to find a good location to trade.

In this market environment, it's not enough just to analyze the market itself.

It's also about watching yourself how you will react and exercise good psychological judgment when and how you get involve in the market.

Unless you can psych yourself mentally, getting involve in the market without any plans and purpose is like torturing yourself to hell.

That's why in trading, it is important that you are mentally prepared, be alert, and most of all - be disciplined!

Following your plans without discipline is not enough to trade well.

Though trading cannot be perfected, it's all about how you manage yourself mentally too.

Trading is not just about putting trades, watching yourself how you react with the market movement cannot be overlooked.