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The process Driven Trading Mindset VS. Outcome Driven Trading Mindset

Hello friend welcome to the #Traderlifestyle
I hope you will be found and love to read my blog in the last blog I had talked about the How Discipline Makes me a successful trader if you don't read must read
so in this blog, I will talk about the trading mindset and how it affects your trading performance.
so  there are two types of trading mindset 
  1. process-driven trading mindset
  2. outcome-driven trading mindset


1.process driven trading mindset - the process-driven trading mindset is the mindset where you trade on the basis of your trading plan, and follow your trading structure, so forecasting, ASR backtesting, and journaling. a process-driven mindset is the best trading mindset which makes you a professional successful trader. when you follow the process-driven mindset you recognize your skill, your level of consistency, and you better handle your trade. when you follow a process-driven trading mindset you focus on compounding your knowledge rather than compounding your trading account.most of the traders make losses in trading because they focus on compounding their trading account rather than compounding their knowledge.when you do trading after doing forecasting, backtesting, journalling you gain believe in your trading and when you do these thinks again&again you will be master in this process. the seed of the process-driven mind become plant when you follow your trading plan and all the important thing which I told you above. The power of the process-driven mindset makes you a limitless, unstoppable, consistently profitable trader.


now I will talk about the five most important thing which helps you to follow the process-driven trading mindset



A trading plan is one of the most important things that affect your trading performance, 

and this is also one of the best things that makes you a successful consistent trader.so I hardly suggest you make your trading plan before initiation any trade. make a different type of condition in a single product that you trade.
"good opportunity dont give a time to thinks so always ready with a plan, make conditions and if that condition happens to take a quick decision to initiate things"


Backtesting is the second important thing that directly affects your trading performance.
backtesting gives you a belief about your trading accuracy, with the help of backtesting you can understand what did the mistake you do that's why you get wrong and when you do proper backtesting of your trades you will never repeat your mistakes again and again so so proper backtesting of your trades and also try to learn however you are right or wrong.

ASR this is the third most importent thing that directly affects your trading performance.
 advance self-review is the weekend work. in the advance self-review, you judge your every trade which had taken during the week. with the help of advanced self-review, you can maximize your trade and become a more consistent trader when you do proper ASR.

what is journalling actually??? 
journalling is nothing but writing about your daily activities which are done by you during the day.
"When you speak about your actions this becomes a dream and when you write, what you speak that become goal"
if I tell you about my journaling habit, every day after wakeup I make my 5 daily targets and I spend my whole day achieving my target that's give me happiness and makes me unstoppable trader.
if you want to make your day productive so follow the disciplined journalling habit. this will improve trading consistency.


chart forecasting is the importent thing which directly affects your trading performance
chart forecasting is a little bit difficult work but if you want to learn chart forecasting.you will have to spend time with the technical chart.so spend more and more time with the technical chart and just try to start forecasting and judge your daily performance.
so, friends, these are the five most important things which help you be a process-driven mindset trader.

outcome-driven trading mindset-driven mindset is the mindset where your focus is on only to compound your trading account your focus is ultimately on profit in an outcome-driven trading mindset your thinking ability shout down you take trading advice from others and make losses when you follow outcome-driven trading mindset your learning get stoped and you dont do any kind of backtesting forecasting,dont follow any trading plan in an outcome-based trading mindset you take trader in a very aggressive manner and also take huge stop loss of your trading capital outcome-driven trading mindest trade make losses on a daily basis because market teach you every day something new so if you want to be a successful profitable trade follow the process-driven trading mindset and as you know trading is not getting quick scheme it is the long time process but "if you want to succeed in the short run you will have to believe in your trading skill rather then your good luck"
so guys thank you for reading this blog I hope this blog is also valuable for you if you really like this blog please share this blog with your trading community.and follow my blog page, you can also follow me through Instagram, Linkedin, Facebook
stay tuned
Happy trading



Comments

Aman said…
Useful article
23 April 2020 at 00:51
JERRY said…
your are blogs has very important contents. we must have to follow all the same.thank you bro.
23 April 2020 at 06:10
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