Conditioning the mind
The key to mentoring is to develop a trader, not just to teach technical analysis there is a small difference although there is overlap
The development of a trader largely involves the conditioning of the mind. The expectations that you have of the market, how you deal with losing, how you deal with winning etc.
You need to condition your mind into accepting realitys in this game. The sooner this occurs the better. Every professional sport has some level of coaching, the conditioning of the mind exists in every sport and makes a large difference
You can only get so good with technicals right. You get to a point where there isnt much to learn and you have something to work with. The differing factor is the mindset of the traders. One person loses and that loss ends up to be the fire that burns down the house, the other trader is a good loser, takes it on the chin and comes back next time. These things are so important.
Ponder over these things, take walks have alone time, condition your mind and mentally prepare for these type of scenarios. It sounds so stupid but it is highly effective. Put your mind into situations where you are likely to be uncomfortable and think about how youd need to act in those scenarios. Plan and prep for then.
I do this myself, it helps. Hence im sharing it with you guys. Condition the mind over time become limitless.
You dont need these new entry models that people will sell to you and push into your face, there are already time tested things people have used to gain profitability this is what you need to focus on
How many people have committed to a plan for 3 months? Stick to one thing for 3 months and make it work. People hop and hop and hop and theyll never amount to anything like this.
You need to devise a plan and commit to it for 3 months. I did this with my interbank group. In nov-dec we made trade plans i spent that time of year maybe going through 300 trade plans. They were first iffy with it and werent too sure. Fast forward 4 months they know it like the back of their hand. They committed to it, tested it, and thats it. If they hopped and hopped they wouldnt find comfort.
Give it time. One loss or even 3 doesnt mean its broken. Perhaps the losses arent even the plans fault its usually the executor. You dont need a new plan you need to get better at the plan you have.
