So why do you feel it would be beneficial to “think like a professional trader”? Because if you think like one, you can trade like one! And what would trading like a professional imply? Easy, a professional trader produces consistent results and consistent income. Isn’t it your goal to produce consistent profits?Trading consistently requires a certain degree of psychological agility. There are a number of mental skills that need to be learned to be able to utilize a trading methodology to its maximum potential.

For example, I’m sure everyone has either heard the adage “to be a successful trader, you have to cut your losses short and let your profits run.” This is certainly a sound formula for success, but it is much easier said than done. It’s because the ability to make your losing trades much smaller than the profits from your winning trades on a consistent basis is a function of the way you “think” about trading. It falls into the category of a mental trading skill, not a technical skill as most traders assume.

Learning a good technical method and developing a sound trading plan can turn the market into an unending stream of opportunities. And that’s something to really get excited about. But that excitement can easily turn into frustration, if you don’t have the mental skills to execute your trades in manner that is consistent with your method or plan.