Oil Trading Machine
How to Become a Oil Trading Machine Through Oil Trading Psychology
When it comes to oil trading as a trader you will need to execute your crude oil trades like a oil trading machine, without any emotions, or without being influenced by crude oil price movement that the crude oil price has moved up so much that you now need to open a oil buy trade because the up move has really moved some pips.
So to trade like a oil trading machine as a trader you need to transform your oil psychology. To transform your oil trading psychology then you will require to write down rules which you will follow in your oil trading plan.
The example explained below shows how to write the oil psychology rules
- Trade without Emotions (greed, fear, anticipation, impulse, bias, over-excitement)
- I trade what my eyes see not what I feel.
- I will be patient.
My job is not to be the oil trading system!
It isn't to decide which trades looks promising.
That is the job of my oil trading system. My system has a set of rules which tells me this is what I follow. Do not get caught up in crude oil price action making rules as you go along.
MY JOB DESCRIPTION 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.
Taking trades not indicated 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 & boil down to lack of faith in system & not having a burning focus on accurate execution.
GOAL: To have 100% undivided focus on mastering my ability to execute my oil trading system accurately.
The more you develop the ability to step back from crude oil price movement & watch crude oil 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 oil trading psychology rules like the ones above then as a trader you'll begin to follow your crude oil system and trade more like a oil trading machine would if the system you are oil trading with was to be automated.
The more you follow these oil trading psychology rules the easier it will become to trade the crude oil market without being influenced by the various market movements.
Always make sure that you're opening a oil trade because the rules of your trading system have been met and a signal has been generated and not because you have seen the crude oil market jump and so now you decide it is time to buy.
By following a oil trading system then you will be able to trade more like a oil trading machine and follow the rules of your crude oil system & your trading will become more profitable.
Changing your oil trading psychology will not be easy and that is why as a trader you must constantly make an effort to follow the rules of oil trading psychology that you write on your oil trading plan until the time you master these rule and you can now trade the crude oil market without emotions and trade like a oil trading machine.
To learn more about oil psychology read the following oil psychology tutorial
- Oil Trading Psychology Guide
- Oil Psychology & Emotions Fear and Greed
- Oil Trading Psychology Principles
- Learn Oil Trading Psychology
Oil Trading Psychology for Oil Traders.
