Is there a Holy Grail of Trading?
In this article I will try to answer this question honestly
. What you find may suprise you.The fact of the matter is; success at this "trading lark" is 90% dependent on the frame of mind you are in when you approach it. The methods of trading you use account for probably the other 10%. I use these figures loosely. There's no doubt that you need a good "system" of indicators and trading rules before you start but the final test, once you have chosen your methodology, is how closely, as a free thinking individual with all the strengths and weaknesses of human nature, you manage to stick to it.
There are literally hundreds of books, manuals, courses etc out there that will teach you a system/strategy to win in the trading game. Some are brilliant, some not so brilliant, none are unique and none are a magic button or holy grail to trading success. They all use various combinations of well established trading rules and strategies, all of which are available free of charge by searching the Internet. My own system/strategy uses a combination of Candlestick Charting, Stochastics and Pivot Points. I didn't discover pivot points or stochastics and I am way too young to have discovered Candlestick analysis. The way I have put them together is probably not unique either. However, the way I approach my trading is unique to me and the way you will approach your trading will be unique to you.
It's how well we manage to control our emotions of fear and greed and to coldly close out a losing trade, or a winning one for that matter, when our pre-designated stop or target has been breached or to refrain from placing a trade when we know deep inside that our rules are telling us there is no trade to be had, that decides how successful we are as a trader.
My system/strategy itself if used in an almost "robotic" manner is between 80% and 90% accurate. My own accuracy rate ranges between 0% and 90% dependent on my frame of mind when I am trading! (thankfully it averages at the high end of that range for most of the time).
The upshot of all this is that, contrary to popular belief, there is a "Holy Grail" of trading but it is not to be found in any of the trading tools, software, books or manuals on the market. It's free of charge and you've already found it!
The fact is that I am an experienced trader and when I am on form I am a very successful trader. The bad trades that I make and the losing runs I have are not the fault of the system I use. They rest squarely with me and the way I approached the trades.
I really hope this helps some of you that are still hovering on the edge of joining the trading game. If it's put you off, good, you've saved yourself a fortune - if it's helped you decide to start, great, welcome to one of the two best vehicles to financial freedom that exists and I'll see you on the QE2 or the QM2 maybe. More info aboutHow To Trade The Financial Markets
Is there a Holy Grail of Trading?
By: Alex Andrian Aarkstore Enterprise---bankers Petroleum Ltd. (bnk) - Financial And Strategic Analysis Review Aarkstore Enterprise---baker Hughes Incorporated (bhi) - Financial And Strategic Analysis Review Aarkstore Enterprise---nido Petroleum Limited (ndo) - Financial And Strategic Analysis Review Aarkstore Enterprise---petra Perdana Berhad (petra) - Financial And Strategic Analysis Review Biotel Incorporated (btel) - Financial And Strategic Analysis Review Aarkstore Enterprise---berkley Resources Inc. (bks) - Financial And Strategic Analysis Review Aarkstore Enterprise---carpathian Resources Limited (cpn) - Financial And Strategic Analysis Review Bsml, Inc. (bsml) - Financial And Strategic Analysis Review Aarkstore Enterprise---avenir Diversified Income Trust (avf.un) - Financial And Strategic Analysis R Aarkstore Enterprise---petrofac Limited (pfc) - Financial And Strategic Analysis Review Aarkstore Enterprise---northeast Utilities (nu) - Financial And Strategic Analysis Review Aarkstore Enterprise---austin Exploration Limited (akk) - Financial And Strategic Analysis Review Aarkstore Enterprise---tonengeneral Sekiyu K.k. (5012) - Financial And Strategic Analysis Review