July 14: New Thinking in Technical Analysis – The Secrets that Reduce Negative Emotional Psychology – Part 5

Welcome back to the 5th part of the Ultimate Trading Systems article series. We`re going to discuss new thinking in technical analysis – the secrets that reduce negative emotional psychology.

What is new thinking in technical analysis? The answer is the art of applying self-discipline used to analyze the market – without it, you will lose.

New thinking in technical analysis involves discipline, which is broken up into three parts. These three areas of trading will ultimately determine your trading success.

  1. 1. New Thinking in Technical Analysis Involving Training – The successful trader never rests on past success, or believes that his trading ability has peeked. He consistently learns and practices his decision-making skills, honing them until they become second nature. After his training, he reacts faster than a speeding bullet, with the benefit of superior human judgment. (That is what this article series is all about).
  2. 2. New Thinking in Technical Analysis Involving Trading Rules – The successful trader develops a set of trading rules – A PLAN – that he follows religiously. This guides his decision-making at all times. If a trader`s plan dictates that it is time to exit a stock, the trader will exit that trade and not wait a minute longer. (We will cover this topic in detail in the next chapter).
  3. New Thinking in Technical Analysis Involving Self-Control – Successful traders display an extraordinary amount of self-control. Whether panic, in a downturn, or in euphoria, the disciplined trader keeps emotions constantly in check and is immune to the highs and lows that attend large market swings. I will show you how to learn the secrets of discipline.

Learning, new thinking in technical analysis involving discipline to some may seem like a tall order. That is exactly the point – trading is difficult work, serious business and time consuming. This explains why a trader needs to learn new thinking in technical analysis. This new skill also involves patience and a great deal of hard work. Master new thinking in technical analysis and you are on your way to success. Step off the straight-and-narrow path and refuse to learn the new thinking in technical analysis of applied discipline; you will meet certain financial ruin.

I said it before and I`ll say it again, the key message about learning this new thinking in technical analysis is that without it you will lose. It is that simple.

You may think:

  1. I understand this already.
  2. I`ll be disciplined in my trading.
  3. I don`t need to learn a new thinking in technical analysis.

Nevertheless, this is where fear and greed enter into the picture. After an emotional rollercoaster, you will find out the stability of your character.

Can I Learn New Thinking in Technical Analysis and Mastering Self-Discipline?

The big question is this: can you develop the discipline you do not have naturally? I believe the answer is yes, you can, but you must have the necessary commitment to do so.

Clearly, discipline can be developed; Look at an army-training program for confirmation of this fact. However, it is one thing to have a vast experienced organization bearing down on you, prepared to do whatever it takes to make its point. It is quite another thing to do it yourself in the comfort of your own home, with all of the distractions of daily life.

Clearly, new thinking in technical analysis involving self-discipline is a requirement before you start a training process.

Ultimately, not learning the new thinking in technical analysis you need, results in undisciplined behavior. Undisciplined behavior, punished by the market either by direct losses or by the loss of profits, takes away your money that was available.

Private traders who persevere have an external stimulus that helps the process. However, the market does not help as much as it might, because of the principle of random reinforcement. It is the market`s tendency to reward bad behavior from time to time.

This crucial fact is one of the reasons why it takes so long to learn how to trade. You need to realize this: there is no point in having a system, if you are not going to follow it.

You can speed up the process of learning new thinking in technical analysis. Read the book that has a forward written by Dr. Alexander Elder, author of Trading for a Living. The recommended book is entitled the The Way to Trade After reading it, it`s easy to see why Dr. Elder said…

In the book you are about to read, John Piper takes you beyond theory. He provides an essential lesson that most will never get.

Click below for more details:
http://www.meta-formula.com/thewaytotrade

This testimonial alone is enough to make The Way to Trade required reading. Moreover, it will give you a great foundation that we build upon in later chapters. Therefore, before moving on to the next chapter, purchase The Way to Trade by John Piper and read it from start to finish.

You can either go to your local bookstore and/or purchase it online by clicking on the link below. By ordering online, you can begin reading it within 5 minutes and there`s also a few added bonuses.

Click below for more details:
http://www.meta-formula.com/thewaytotrade

Let`s get your psychology right.

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MUST DO ACTION STEPS:

1. Purchase a copy of The Way To Trade by John Piper. Your goal in reading this book is to gain an overview of trading and, more specifically, to learn new thinking in technical analysis involving trading discipline.

Click below for more details:
http://www.meta-formula.com/thewaytotrade

Remember to keep any eye out for my next article, because I`ll show you how to design winning trading systems.

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This is part 5 of the Ultimate Trading Systems course.
To download your FREE copy of this entire course,
and learn the science of desiging profitable trading systems,
Click Here ==> http://www.ultimate-trading-systems.com/greatnews.htm
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