Developing a Winning Attitude will stop negative thoughts from creeping in, and outside influences from changing your plan. Here are some thoughts about developing a winning attitude:

1. A positive attitude enhances your market performance.
2. Don't dwell on losses if they are part of the system's performance.
3. Attaining a goal starts by having a goal. Avoid setting goals that cannot be achieved. Achieving your goals means sticking to your system each day.
4. Achieving your goals means doing the homework before the market opens.
5. Achieving your goals means placing all of orders ahead of time.
6. Understand how your system is constructed and its maturity before you take the first trade.
7. Achieving your goals means following through from start to finish.
8. Focus on the next winning trade, and leave the last trade behind.
9. Be organized, consistent, set goals and follow through.

Winning attitude is very important for traders to have the right mindset to be successful in trading and not to mess their own trading account. Being aware of the common fail are important as to avoid it early, and not to create bad habits. It is best to avoid them completely if possible in the first place.

 

Overconfidence can soften your focus and throw you into a state of mind where nothing can go wrong. It is at this stage in trading that everything can go wrong. Really learning the following rules will help you avoid falling into the trap of being overconfident:

1.  Understand that overconfidence can occur if you have too many winning trades.
2. Catch yourself when you have thoughts that your trading system can do no wrong.
3. Catch yourself when you say you need to leverage up because you are "never wrong."
4. Catch yourself when you think you can guess the direction of the markets.
5. Do not allow overconfidence to cause you to overtrade and bring about losses.
6. Overconfidence can lead you to a fantasyland of 100% profits, and that leads you to lose your discipline.
7. If this happens, stop trading and redirect your mind to your trading system.
8. Live in the reality of your trading system. If you have many winning trades in a row, remember to check the long term results of the trading system, including losses.

It doesn't matter how good your system is or how great your trading strategy might be. If you cannot follow both the winners and the losers, then you will not be able to duplicate your success.