Aug 13: Got a Great Trading System – But Your Still Losing – PART 16

You`ve done your homework.

Countless hours of seeking out the right guru (or piecing together your own trading system). Weeks of monitoring your guru`s daily trade picks (or papertrading and back-testing your homemade system).

You`ve done it by the book.

No seat of the pants trading for you!

OK, now you`re confident. It`s time to put your money where your homework is.

You`ve had your coffee and your first trade signal is before you.

Confidence high. Trade made. First loss. Not a problem.

You understood before you started that successful traders both win and lose and losing is part of the overall winning. You`ve also heard more then once that successful traders don`t win on every trade.

Moving on, still confident. Next trade made. Another loss, but… This one hurt your pride a little because you got stopped out early in the trade, and then the market rebounded and would have hit your profit target if you weren`t stopped out.

You double check.

Yep, you placed the stop where your trading system told you to place it.

You kind of had a feeling that the early weakness in the market was just profit-taking from the previous day`s trading, but you`re trading a system and you must stick to it.

Wounded, but resilient.

After a good night`s sleep and a few mouse clicks, your new daily trades are in front of you.

Hey, this one looks good! It`s a little bit more risk than yesterday`s trades had, but look at that profit potential!

With a smiling face, the trade is executed. With a nice start to the trade, you`re feeling good and you`ve moved your stop to breakeven, just like your system said.

Surprise piece of news! Market reverses – blows through your stop – an unexpected loss.

Is something wrong with the system?

Has the overall market personality changed, affecting your system to the core, rendering all your back-testing irrelevant?

Your confidence turns to doubt.

You decide to watch the next trade… I mean, isn`t it wise to make sure the system gets back on track before you throw good money after bad?

Isn`t that what a conservative trader does?

Trade watched. It wins!

In your head, you beat yourself up a little because you know that when you started your live trading, you made an agreement with yourself to take the first 10 trades no matter what… and here you wimped-out and missed a big winner that would have gotten you even.

What`s happening?!!

What`s happening is that you are out of control. Your emotions are ruling your trading.

The above scenario plays out in every trader from time to time… newbie and veteran alike.

The winning trader senses what is happening and nips it in the bud. The winning trader spend time EVERY DAY, working on the discipline of trading.

He/she reads a chapter in his/her favorite psychological trading book, scans the ten commandments of trading that hangs on the wall over his/her desk, listens to his/her mental training software for traders…

Something… Every Day… before trading begins.

There are many more losing traders than winning traders… and it`s seldom about the trading system.

In my career, I`ve come across at least 50 systems that I consider A+, yet I know for a fact that MOST traders that have traded these systems have lost.


They were not in control of their emotions.

Are you?

By Norman Hallett

Chapter Addition By David Jenyns

The astute reader may have noticed this article series has now gone full circle. We began with “you and your mindset” and now we`re going to finish with you and your mindset.

The reason for ending on “you and your mindset” this is simple, to fully master your trading system, you must master your emotions. For many, this is a battle they will never win… or so I thought. In fact, I used to be of the belief that you were either born a trader or you weren`t. In my journey to make the most difficult trading system procedures simple, I discovered I was wrong.

It was Jake Bernstein, and his work on mental training for traders, that help me see the errors in my thinking. Now I`m a little skeptical when it comes to this area of trading because never before have I seen a mental training executed to my liking.

Thanks to some of my clients who got me interested enough, I began to dig a little deeper into Jake Bernstein`s TradingMind Software.

What I have found is that Bernstien has created something so exclusive it is a must-have for anybody who wants to maximize their trading potential. His work truly is groundbreaking and, best of all, it`s simple!

All you have to do is pop his software on and let the software do the rest. The only click you’ll have to make is choosing the mental training session you’d like to run. Then sit back and relax. That’s it!

Here`s just a few of the areas his training works on:

  1. Gain the strength to take your losses without wavering
  2. Eliminate fear, doubt and hesitation
  3. Avoid the dangers of over-confidence
  4. Develop a winning mindset based on the mental/emotional rules of a winning trader
  5. Eliminate the emotions that can sabotage your success
  6. Reverse bad habits and replace them with good ones
  7. Live in the reality of your system and level your emotions
  8. Establish clear, specific, time-based goals – then reach them!
  9. Learn to maintain discipline
  10. Reduce the stress associated with trading gains and losses
  11. Visualize Success like a champion trader!
  12. Travel your chosen path with confidence!

When all is said and done, I hate to say it, but even after following the Ultimate Trading Systems up to this point, some people still don`t make it to the top 1% of traders who are successful in the market. Why? Because they haven`t mastered the most important aspect of trading… themselves.

Be one of the rare few who make it using Jake Bernstein’s TradingMind Software.

Let`s make you a market wizard.


1. Click Here to purchase a copy of Jake Bernstein’s “TradingMind Software.” Your goal from this program is to reshape your mind and gain control over your trading like never before. This is the secret many traders never get.

Remember, keep an eye out for my next article because I’ll tell you where to go from here.


You`ve Read Part 16 of The Ultimate Trading Systems Series –
The Formula For Designing Profitable Trading Systems.
To Download This Entire Series For FREE Click Here.
Click Here ==>

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