He then reduced his position size to allow for these stop loss orders being further away from price action, so that his account was never at risk of being totally wiped out by one serious loss.

He did a pre-trade and post trade analysis sheet, so he could analyze his performance and try to consistently improve his results.

(This can be as simple as a sheet of paper where you write down your order, position of market and your thoughts and feelings before, during and after a trade.

Or it can be an elaborate system of checks and balances that guide you through each of your trades. Be careful though - keep it simple or you probably won't use it!)

Once he started to do this, he started to make money (with exact system we have been teaching you on this Website).

(There are, of course, many other strategies and systems you can use in addition to lessons we teach you to increase your profits, but to start with, these methods are all you really need to become a profitable trader.)

We are always learning and improving - every trader should strive to do this also.

When you are making consistent profits using methods we have shared with you, investigate some of these additional entry and exit techniques, but not at start. Keep it simple.

When he started to trade this way, he found it was far better to take a small position with a loose stop loss and be able to sleep at night, than his previous strategy of using maximum leverage and stressing out whenever he was in market, to point where he couldn't stand to walk away from his screen in case position went against him.

This method sets up lots of profits and a few losses. Much better than alternative he had previously used.

He then started looking for Stocks that trended strongly for long periods of time, and was drawn to US Stock Market.

He used exactly same entry and analysis techniques I have shown you on Website, and - He bought Call options in Gen Probe Inc (GPRO) with Stock at $27 and held on until Stock price was $58 three months later. He bought Pacificare Health Systems Call options (PHS) when it was trading at $24 and held them to $51 four months later. And he bought Sandisc Corp Call options (SNDK) with Stock at $24 and held them to $58 less than four months later. (Please Note - these are not Stock recommendations, they are merely mentioned here for illustration and educational purposes and trades are hypothetical examples).

Can you imagine change in size of his trading account balance?

None of these Stocks had given him any reason to sell earlier, so he simply held on for ride…Awareness, Belief, Conduct...the success triangle.

The Awareness will come when you study and really 'get' lessons on Website and in Newsletter.

Study lessons carefully, read books written by masters. Teach others what you have learned - you will gain a better understanding yourself.

All human interaction is a chance to learn or to teach.

By teaching someone else and sharing your knowledge, you will learn any subject at a deeper level. You ultimately go from an intellectual understanding to an emotional understanding (as Robert Allen calls them, an aha!) of your chosen area of interest, in this case, profitable trading. Try it...

The Belief will come when you back test Trading Plan I share with you on Stocks that you want to trade and prove to yourself that it does indeed work.

Visualize yourself making a series of profitable trades. Feel how good it is to see market moving in direction you expected it to.

Imagine spending profits you make trading Stocks with your family and friends, and time you will have to do things you want to do instead of things you have to do. Successful trading gives you 'time freedom' to do whatever it is that you want to do with your life. Do it first in your mind, and then do it in market.

Your Conduct - well that's up to you. Will you 'decide' to look at your written trading plan as your life raft? Cling to it as your last defense against emotions of fear and greed that live inside each one of us?

Will you trade with trend, enter off 1 to 4 day reactions to main trend, reduce your leverage or position size and put your stop loss orders out of way, so market has to change trend to get you?

If you do this, you should be confident that you can achieve trading success. That is our wish for you. Good luck.

Now, lets review today's lesson - The Trading Success Triangle has as it's three sides - Awareness, Belief and Conduct If any of these elements are weak or missing, triangle has no strength The sides are all important and are dependent on each other, but Conduct is most difficult for average trader to master Fear and Greed act to change our conduct from what our rational thoughts tell us is correct course of action, to actions that aren't always in our best interests By controlling Fear and Greed, we can make rational decisions that help us to become profitable traders

I hope this lesson has helped you in understanding mindset of a successful trader a little better.

Understanding these three critical elements of trading psychology will put you well on way to a profitable trading career.

Get this, and your trading success is practically assured. Miss lesson, and your chances of making big money in Stock Market are profoundly limited.

Please feel free to share this lesson with your trading friends and associates - they will thank you for it.

To Your Trading Success,

Tony Spann and Team

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Stock Trading Review is dedicated to helping you succeed as a trader by sharing with you simple and easy to follow tips and techniques.

Discover more insider secrets and exact proven strategies to trade stocks profitably:

http://www.stocktradingreview.com

Copyright(C)2005 Stock Trading Review

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Stock Trading Review is dedicated to helping you succeed as a trader by sharing with you simple and easy to follow tips and techniques.

Discover more insider secrets and the exact proven strategies to trade stocks profitably:

http://www.stocktradingreview.com

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