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Those damn trading misstakes. If only we could trade clean and highly effective.
But those damn misstakes stands in our way to success.
All of us, no matter how we good or how we are stable, having those same issues from time to time.
Some of us have those issues constantly.
I dove in to this suit and found out the nature of trading misstakes and i am able to help you to solve.
If not to solve but to UNDERSTAND the type and the roots of your misstakes, so you can deal with it.
And the next part of topic is up to you.
I will set up a list of common trading misstakes.
Your task is to reply to my message and post 1 to 10 degree of how particular misstake influens your trading.
Here is the list:
1) Trade Entry Paralise - i am not able to execute than it is a time
2) Unreasonably tight stop losses - i am afraid to put larger stop loss
3) Searching of PERFECT IDEAL entry point or wating for IDEAL moment to enter
4) Fear of taking a loss - i cant cover losing trade
5) Fear of leaving money at the table
Once again. Your task to reply and to put 1 to 10 degree for each misstake dependent how particular misstake bothers you.
Can you help answer these questions from other members on NexusFi?
I HAVE NONE OF THESE PROBLEMS ANY MORE AFTER QUITE A LOT OF EXPERIENCE.
1) Trade Entry Paralise - i am not able to execute than it is a time
OKAY, THEN TAKE A DAY OFF. TAKE A WEEK OFF. DO SOME RESEARCH INSTEAD BY WATCHING SOME VIDEOS ABOUT THIS STUFF. WORK ON SOMETHING ELSE. RESEARCH SOMETHING ELSE UNTIL YOU WANT TO DO IT AGAIN. TYPICALLY THOUGH IF YOU ARE AFRAID TO GET IT, YOU DON'T KNOW HOW TO DO BUSINESS WITH THE MARKETS BECAUSE YOU ARE NOT RESEARCHED ENOUGH ON WHAT THE MARKET MECHANICALLY IS, YOU DO NOT KNOW THE BUSINESS DEMOGRAPHICS OF ALL OF THE TRADERS AND INVESTORS BEHIND THE MARKETS, AND YOU DO NOT KNOW ENOUGH ABOUT STRATEGIC TRADING/INVESTING ENOUGH TO BE DEFENSIVE AS WELL AS YOU ARE OFFENSIVE. MAKING MONEY IS OFFENSIVE. ANYONE CAN DO THAT. DEFENDING AGAINST LOSSES IS DEFENSIVE THOUGH. HOW DO YOU DEFEND AGAINST GOING BROKE IN AN ORDINARY LIFE? IN A TYPICAL BUSINESS SHOP ON MAIN STREET? IF YOU DON'T KNOW HOW TO BUDGET, CUT COSTS, PAY FOR COSTS BY TURNING LOSSES INTO PROFITS, THERE'S YOUR PROBLEM. TRADING IS A BUSINESS. THINK DEFENSIVELY. IF YOU CAN'T YET, YOU'LL BE SKEERED TO GET BLOWN UP. THAT'S WHY.
2) Unreasonably tight stop losses - i am afraid to put larger stop loss
DIFFERENT MARKETS REQUIRE DIFFERENT STOP LOSS DEPTH. DIFFERENT ACCOUNT SIZES DO TOO. DIFFERENT TIMES OF DAY OR NIGHT DO TOO. I USUALLY GET OUT WITH A LOSS THE SAME AS WHAT I WAS EXPECTING TO PROFIT AS A MINIMUM. I DON'T EXPECT TO MAKE A BIG PROFIT PER CONTRACT ON ANY SINGLE TRADE, SO I DON'T ALLOW A BIG LOSS TO OCCUR FOR ANY SINGLE TRADE. IF IT WAS A BAD TRADE, OKAY THEN. IT WAS A BAD BUSINESS DEAL. THOSE ARE THE COSTS OF DOING BUSINESS. IT'S THE NATURAL ORDER OF BUSINESS LIKE HOW THINGS BREAK AROUND THE HOUSE THAT YOU HAVE TO BUDGET FOR WHEN THEY DO. TYPICALLY YOU KNOW HOW TO CARRY ON, SO TYPICALLY YOU'RE NOT ALWAYS GOING TO BE LOSING UNLESS YOU JUST DON'T KNOW YOUR JOB. THIS IS A JOB. YOU WON'T KNOW WHAT TO DO IF YOU DON'T KNOW THIS BUSINESS THROUGH AND THROUGH YET. THAT TAKES A LOT OF DAYS HANGING IN THERE WITH IT AND PEOPLE ONLINE IN IT. STICK TO IT EVEN WHEN IT HURTS TO.
3) Searching of PERFECT IDEAL entry point or wating for IDEAL moment to enter
THERE ARE PERFECT CHART SET UPS, AND THEN THERE ARE A LITTLE LESS THAN PERFECT CHART SET UPS. THERE ARE MULTIPLE MARKETS TOO. THEY'RE GOING TO OFFER YOU THEIR SET UPS IN THE PATTERNS, AND YOU'RE GOING TO SPOT THEM WHEN YOU ARE CRUISING THROUGH THE CHARTS LOOKING FOR THEM. YOU'RE NOT THE ONLY ONE THAT SEES THEM. THE MORE PERFECT THE PATTERNS, THE MORE TRADERS ARE GOING TO INVEST, THUS THE MORE LIKELY THE TRADE BECOMES PROFITABLE. IF THE TRADE HAS ALREADY BROKEN OUT, THEN LOOK FOR ONE THAT HASN'T. IT'S SIMPLE. YOU NEVER EVER EVER ON ANY ACCOUNT NEED EVERY TRADE THERE EVER WAS. YOU DON'T NEED EVERY CENT ON THE CHARTS.
4) Fear of taking a loss - i cant cover losing trade
REPEAT:
I USUALLY GET OUT WITH A LOSS THE SAME AS WHAT I WAS EXPECTING TO PROFIT AS A MINIMUM. I DON'T EXPECT TO MAKE A BIG PROFIT PER CONTRACT ON ANY SINGLE TRADE, SO I DON'T ALLOW A BIG LOSS TO OCCUR FOR ANY SINGLE TRADE. IF IT WAS A BAD TRADE, OKAY THEN. IT WAS A BAD BUSINESS DEAL. THOSE ARE THE COSTS OF DOING BUSINESS. IT'S THE NATURAL ORDER OF BUSINESS LIKE HOW THINGS BREAK AROUND THE HOUSE THAT YOU HAVE TO BUDGET FOR WHEN THEY DO. TYPICALLY YOU KNOW HOW TO CARRY ON, SO TYPICALLY YOU'RE NOT ALWAYS GOING TO BE LOSING UNLESS YOU JUST DON'T KNOW YOUR JOB. THIS IS A JOB. YOU WON'T KNOW WHAT TO DO IF YOU DON'T KNOW THIS BUSINESS THROUGH AND THROUGH YET. THAT TAKES A LOT OF DAYS HANGING IN THERE WITH IT AND PEOPLE ONLINE IN IT. STICK TO IT EVEN WHEN IT HURTS TO.
5) Fear of leaving money at the table
REPEAT:
YOU NEVER EVER EVER ON ANY ACCOUNT NEED EVERY TRADE THERE EVER WAS. YOU DON'T NEED EVERY CENT ON THE CHARTS.
this is great you do not have problems anymore and thanks for advices which are working for you.
However, many traders are experiencing such problems)))