No-risk observation
1 min read“The only way I know of to build a strong belief system in any given method, system or approach to trading is no-risk observation for a long period of time. How long, you ask? Long as it takes. As long as it takes any person to shift from fear protectionism avoidance sequence to trust confidence consistent application of a successful trading approach. Unless you realize this already, I’m here to tell you that it absolutely cannot happen if you or anyone tries to build mental = emotional confidence while trading real money in the process. It absolutely, positively cannot happen and you will certainly, undoubtedly 100% fail without question. Adding the real-money risk variable to an equation of building trust will ruin results every time. Every single time.”
/Austin Passamonte, tradingmarkets.com
When I had some problems with my trading a couple of weeks ago, I remembered a post from my former blog on Feb 13th. After spending some time off market and working on my mental issues, discipline & patience and spent three weeks of trading in sim mode to build up true confidence in my setups, it has been like a dream to trade. So, take my word for it. Read the quote from Austin Passamonte again and believe what he says, because it´s soo very true.
/J