Psychology of Trading

You Must Know How to Think Like a Professional Trader

Learning to trade at a high level goes beyond simply making money. It involves understanding which Nexgen indicator patterns can be executed confidently, which comes through trading both winning and losing trades. Embrace the learning process and do not fear losses, as long as you share your trade outcomes in class to promote growth and prevent repeating mistakes. Keep your focus on consistency and achieving successful results through your efforts.

Nexgen emphasizes that new traders should complete their education using the simulator and market replay. Many traders make the mistake of testing their trading rules and emotional control skills too early with real money. Without a winning mindset, trading with an incomplete or poorly developed plan often leads to avoidable losses and frustration. Nexgen provides all the necessary tools to avoid these pitfalls. Everyone can win, but thinking and acting like a winner requires a conscious choice. Nexgen's technical patterns provide a statistical advantage, and your mindset and execution of those advantages will determine your success.

John Novak, CEO and developer of Nexgen Fibonacci software, had valuable discussions with trading coach Mark Douglas, who focused on the psychology of traders in the early 2000s. The time spent with Mark Douglas greatly influenced Nexgen's study ideas. To understand Mark Douglas' methods, read his book "Trading in the Zone." Mark Douglas suggested tracking the performance of your trading rules based on a sample size of 20-25 trades. By focusing on high-probability trend trades after a Fibonacci-based solid top or bottom, you can master Nexgen's trading concepts with each sample size of trades. Active participation in class and educator feedback will help you avoid mistakes and enhance your learning.

John Novak believes that a deep understanding of your technical analysis advantages and consistently executing the correct trades will positively influence your trading psychology. If you ever find yourself trading with fear, anger, frustration, or seeking revenge, it is crucial to stop trading and refocus on the highest probability trades and your management rules. There is no shame in returning to the simulator to rebuild confidence in your trading plan when necessary.

Seach for Mark Douglas training videos on YouTube, it will not be time wasted.