XAUUSD Machine
How to Become a XAUUSD Machine Through XAUUSD Psychology
When it comes to xauusd as a trader you will need to execute your trades like a xauusd machine, without any emotions, or without being influenced by price movement that the price has moved up so much that you now need to open a buy trade because the up move has really moved some pips.
So to trade like a xauusd machine as a trader you need to transform your psychology. To transform your psychology then you will require to write down rules which you will follow in your plan.
The example shown below shows how to write the psychology rules
- Trade without Emotions (greed, fear, anticipation, impulse, bias, over-excitement)
- I trade what my-eyes see not what I feel.
- I--willI'll be patient.
My job description isn't to be the xauusd system!
It's not to decide which trades looks promising.
That's the job of my xauusd system. My system has a set of rules which tells me this is what I follow. Don't get caught-up in price action and make rules as you go along.
MY JOB IS
To sit patiently and wait for my system to indicate that it's time to enter or it's time to exit. And then with great focus I execute trade as planned.
Taking trades not given by the system, second guessing system and not taking trades given, hesitating and getting in late, anticipating and getting in early are all common place and boil down to lack of faith in system & not having a burning desire on accurate trade execution.
GOAL: To have 100 Percent undivided desire on mastering my ability to execute my xauusd system accurately.
The more you develop the ability to step back from price movement & watch the market dispassionately, waiting for a signal to trade, the easier it will be to witness the fluctuations of your emotions without getting sucked into them allowing them to throw you off your game.
By writing psychology rules like the ones above then as a trader you'll begin to follow your system and trade more like a xauusd machine would if the system you are xauusd with was to be automated.
The more you follow these psychology rules the easier it'll become to trade the market without being influenced by the various market movements.
Always make sure that you're opening a trade because the guidelines of your system have been met and a signal has been generated and not because you have seen the market jump and so now you decide it is time to buy.
By following a system then you will be able to trade more like a xauusd machine and follow the rules of your system & your trading will become more profitable.
Changing your psychology will not be easy and that is why as a trader you must constantly make an effort to follow the rules of xauusd psychology that you write on your plan until the time you master these rule and you can now trade the market without emotions and trade like a xauusd machine.
To learn and know more about psychology read the following psychology tutorial
- Gold Psychology Guide
- XAUUSD Psychology & Emotions Fear and Greed
- XAUUSD Psychology Principles
- Learn Psychology
XAUUSD Psychology for Traders.
