Best of the Week
Most Popular
1. US Housing Market House Prices Bull Market Trend Current State - Nadeem_Walayat
2.Gold and Silver End of Week Technical, CoT and Fundamental Status - Gary_Tanashian
3.Stock Market Dow Trend Forecast - April Update - Nadeem_Walayat
4.When Will the Stock Market’s Rally Stop? - Troy_Bombardia
5.Russia and China Intend to Drain the West of Its Gold - MoneyMetals
6.BAIDU (BIDU) - Top 10 Artificial Intelligence Stocks Investing To Profit from AI Mega-trend - Nadeem_Walayat
7.Stop Feeding the Chinese Empire - ‘Belt and Road’ Trojan Horse - Richard_Mills
8.Stock Market US China Trade War Panic! Trend Forecast May 2019 Update - Nadeem_Walayat
9.US China Trade Impasse Threatens US Lithium, Rare Earth Imports - Richard_Mills
10.How to Invest in AI Stocks to Profit from the Machine Intelligence Mega-trend - Nadeem_Walayat
Last 7 days
Gold Price Trend Forcast to End September 2019 - Video - 25th June 19
Today’s Pets.com and NINJA Loan Economy - 25th June 19
Testing the Fed’s Narrative with the Fed’s Data: QT Edition - 25th June 19
What "Pro Traders" use to Find Profitable Trades - eBook - 25th June 19
GDX Gold Stocks ETF - 25th June 19
What Does Facebook’s LIBRA New Crytocurrency Really Offer? - 25th June 19
Why Bond Investors MUST Be Paying Attention to Puerto Rico - 25th June 19
The Next Great Depression in the Making - 25th June 19
The Bad News About Record-Low Unemployment - 24th June 19
Stock Market New High, but…! - 24th June 19
Formula for when the Great Stock Market Rally Ends - 24th June 19
How To Time Market Tops and Bottoms - 24th June 19
5 basic tips to help mitigate the vulnerability inherent in email communications - 24th June 19
Will Google AI Kill Us? Man vs Machine Intelligence - 24th June 19
Why are Central Banks Buying Gold and Dumping Dollars? - 23rd June 19
Financial Sector Paints A Clear Picture For Stock Market Trading Profits - 23rd June 19
What You Should Look While Choosing Online Casino - 23rd June 19
INTEL (INTC) Stock Investing to Profit From AI Machine Learning Boom - 22nd June 19
Here’s Why You Should Drive a Piece of Crap Car - 22nd June 19
How Do Stock Prices React to Fed Interest Rate Cuts? - 22nd June 19
Gold Bull Market Breaking Out! - 21st June 19
Post-FOMC Commentary: Delusions of Grandeur - 21st June 19
Gold Scores Gains as Draghi and Powel Grow Concerned - 21st June 19
Potential Upside Targets for Gold Stocks - 21st June 19
Gold Price Trend Forcast to End September 2019 - 21st June 19
The Gold (and Silver) Volcano Is Ready to Erupt - 21st June 19
Fed Leaves Rates Unchanged – Gold & Stocks Rally/Dollar Falls - 21st June 19
Silver Medium-Term Trend Analysis - 20th June 19
Gold Mining Stocks Waiting on This Chart - 20th June 19
A Key Gold Bull Market Signal - 20th June 19
Money Saving Kids Gardening Growing Giant Sunflowers Summer Fun - 20th June 19
Investing in APPLE (AAPL) to Profit From AI Machine Learning Stocks - 20th June 19
Small Cap Stocks May Lead A Market Rally - 20th June 19 -
Interest Rates Square Minus Zero - 20th June 19
Advice for Financing a Luxury Vehicle - 20th June 19
Stock Market Final Blow Off Top Just Hit… Next Week Comes the FIREWORKS - 20th June 19
US Dollar Rallies Off Support But Is This A Top Or Bottom? - 19th June 19
Most Income Investors Are Picking Up Nickels in Front of a Steamroller - 19th June 19
Is the Stock Market’s Volatility About to Spike? - 19th June 19
Facebook's Libra Crypto currency vs Bitcoin: Five Key Differences - 19th June 19
Fed May Trigger Wild Swing In Stock Index and Precious Metals - 19th June 19
How Long Do Land Rover Discovery Sport Brake Pads Last? - 19th June 19
Gold Golden 'Moment of Truth' Is Upon Us: $1,400-Plus or Not? - 18th June 19
Exceptional Times for Gold Warrant Special Attention - 18th June 19
The Stock Market Has Gone Nowhere and Volume is Low. What’s Next - 18th June 19
Silver Long-Term Trend Analysis - 18th June 19
IBM - Watson Deep Learning - AI Stocks Investing - Video - 18th June 19
Investors are Confident, Bullish and Buying Stocks, but… - 18th June 19
Gold and Silver Reversals – Impossible Not to Notice - 18th June 19
S&P 500 Stuck at 2,900, Still No Clear Direction - 17th June 19
Is Boris set to be the next Conservation leader? - 17th June 19
Clock’s Ticking on Your Chance to Profit from the Yield Curve Inversion - 17th June 19
Stock Market Rally Faltering? - 17th June 19
Johnson Vs Gove Tory Leadership Contest Grudge Match Betfair Betting - 17th June 19
Nasdaq Stock Index Prediction System Is Telling Us A Very Different Story - 17th June 19
King Dollar Rides Higher Creating Pressures On Foreign Economies - 17th June 19
Land Rover Discovery Sport Tailgate Not Working Problems Fix (70) - 17th June 19
Stock Market Outlook: is the S&P today just like 2007 or 2016? - 17th June 19

Market Oracle FREE Newsletter

Gold Price Trend Forecast Summer 2019

How to Succeed in the Current Market Conditions

InvestorEducation / Trader Psychology Feb 13, 2009 - 11:19 AM GMT

By: Nazy_Massoud

InvestorEducation

These are uncertain and confusing times. Everywhere you look, any conversation you listen to, it is about the economy and its impact on our lives. We hear about deficit, raising taxes, unemployment and lack of liquidity. It is enough to make everyone enter a negative emotional spiral.

How can you deal with these uncertain times?


1.  Manage Your Emotional Risk

It is crucial to manage your emotional risk, and yet it is challenging. What are some ways that you can manage it?

•  Limit your input – Be conscious of how much time you spend talking / listening to others about the negative impact that these markets are having on our lives. It reminds me of a quote that I heard: “Worrying does not empty tomorrow of its troubles, it empties today of its strength.”

•  Separate your results from who you are – Yes, I realize the majority of us define ourselves by what we do and how much money we make. This is the time to rethink that.

•  Reduce your stress – This allows you to be more creative and enables you to plan rather than react.

Napoleon Hill says: “If you don't control what you think, you can't control what you do. “

2.  Manage Your Expectations

Be realistic with the goals that you are setting for yourself. When you have unrealistic expectations, you set yourself up for real pain…

Remember, tough times don't last forever. To thrive in these situations, you need to be resilient, strong and flexible.

Roger Crawford says: “Being challenged in life is inevitable, being defeated is optional."

3.  Recalibrate Your Skills and Strategies

This is the time to think about how you can reposition yourself to make it in these markets.

Look at your strategies objectively and see if they still apply. Don't be attached to how things were. These times are like nothing we have experienced in our lives.

If the old strategies don't work, come up with new ones and see if you need to develop new skills so you can apply them to the new strategies.

This is the time that you need to think and act differently.

Napoleon Hill says: "The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those which fail."

4.  Give Yourself an Emotional Stimulus Package

This is very important. It is about coming from a place of gratitude. Yes, I know when we are hearing all about doom and gloom, it is challenging to be grateful.

Ask yourself, how can I find more meaning in my life?

My challenge to you is to find at least 3 things that you are grateful for. It can be as simple as, you have your family, your health and people who care about you.

William Arthur Ward has a quote: "The pessimist borrows trouble; the optimist lends encouragement."

To summarize, the 4 steps we can take to succeed in the current market conditions are:

  1. Manage Your Emotional Risk
  2. Manage Your Expectations
  3. Recalibrate Your Skills and Strategies
  4. Give Yourself an Emotional Stimulus Package

There is a quote by Yoda that says: "Train yourself to let go of everything you fear to lose. . . The fear of loss is a path to the Dark Side."

Here is to making trading success your habit™,

By Nazy Massoud

PS. For more Mental Edge tips and reports on how to have more profitable trades, go to www.MentalEdgeTrading.com .

Copyright © 2009 Nazy Massoud

Nazy Massoud, a Wall Street Insider, shows traders, investors and hedge funds how to master the “Mental Edge” necessary to manage their Emotional Risk. These principles help them learn how to consistently make more profits. For more tips and a FREE report about "The 3 Biggest Psychological Triggers That Can Make Or Break A Trader" go to www.MentalEdgeTrading.com .

Nazy Massoud Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules