Trade Forex Trading

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.

To trade like an XAU/USD expert, focus on transforming your trading psychology. Draft a set of rules to guide your decisions and integrate them into your trading plan.

The example shown below shows how to write the psychology rules

MINDSET/PSYCHOLOGY

  • Trade without Emotions (greediness, fear, anticipation, impulse, bias, over-excitement)
  • I trade what my eyes see and not what I feel.
  • I'll be patient.

My job description is not to be the gold system!

It isn't to decide which trades looks promising and which one does not.

That's the job of my gold system. My system has got a set of trade rules which tell me this is what I follow. Do not get caught up in price action and make rules and strategies as you go along.

MY JOB IS

I wait patiently for my system to tell me when to enter or exit. When the signal comes, I focus and execute the trade exactly as planned.

Opening trade transactions not given by the trade system, second guessing system and not taking trade transactions given, hesitating & getting in late, anticipating and getting in early are all common place & boil downwards to lack of faith in the trading strategy and not having a burning desire on accurate trade execution.

GOAL: To have 100 Percent undivided resolve on mastering the ability to execute my gold system accurately.

The more adept you become at mentally stepping away from immediate price fluctuations and observing the market objectively, patiently awaiting a confirmed trading signal, the easier it will be to recognize the ebb and flow of your trading emotions without becoming emotionally ensnared and allowing them to derail your trading execution.

Write down psychology rules like these to stick to your system. Trade like an automated XAUUSD tool would.

Adhering to these psychological principles will simplify your trading experience, enabling you to operate in the market without being swayed by various market fluctuations.

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.

Adhering to a defined system will enable you to trade more robotically, strictly following your established trade parameters, which consequently leads to enhanced profitability in your trading endeavors.

Modifying one's ingrained psychology is inherently challenging, necessitating continuous, deliberate effort from the trader to strictly adhere to the self-imposed XAUUSD trading rules outlined in their plan. This discipline must be maintained until such time that these rules are wholly internalized, allowing for emotionless, machine-like execution in the market.

To learn and know more about psychology read the following psychology tutorial

XAUUSD Psychology for Traders.

Study More Lessons and Guides:

XAUUSD Broker