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'll require to write down rules which you'll follow in your 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. Don't get caught up in price action and make rules and strategies as you go along.

MY JOB IS

To sit patiently & wait for my system to indicate that it is time to enter or it is time to exit. And then with great focus I execute trade 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 down to lack of faith in system and not having a burning desire on accurate trade execution.

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

The more you develop the ability to step back from price movement & watch the market dispassionately, waiting for a trading signal to trade, the easier it will be to witness the fluctuations of your trading emotions without getting sucked in to them & allowing them to throw you off your trading 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'll be able to trade more like a xauusd machine and follow the trade rules of your system and your trading will become more profitable.

Changing your psychology won't be easy & that's why as a trader you must constantly make the effort to follow the trade rules of xauusd psychology that you write on your plan until the time you master these rule and you as a trader 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

XAUUSD Psychology for Traders.

Study More Lessons and Guides:

Trade Forex Trading

How to Become a XAUUSD Machine Through XAUUSD Psychology