Want To Know Why You Keep Losing Trades?… Look In The Mirror
Guest post from www.visionsofaffluence.com
So you want to be a trader? You buy all the books, hang out on the most popular forums, and try every technique and indicator you come across, but still you get no where. So, then you but even more books, spend more time o forums, and try even more techniques and indicators. And still none of it makes a difference and you can’t figure out why. Well I’m here to tell you why. Quite frankly, you’re the reason you can’t trade successfully.
You see what most people fail to realize is that trading is about 90% mental and only 10% technique. That means that you can have the best system in the world, but if you don’t have the right mindset then you’ll never be successful. This is something that most traders never think about and consequently why so many of them are doomed to failure. It’s unfortunate because trading itself is actually pretty simple. That’s right contrary to popular belief trading easy. All you have to do is find a method that works (and there are plenty of them by the way) and implement it. But see therein lies the problem, we as humans have to implement them.
A lot of times people find trading methods, use them, fail to profit, and then come to the conclusion that the method doesn’t work when a lot of times its not the method, but rather the implementation that causes the problem. We come along with our emotions like fear and greed and make a mess of things. We don’t trade when we should or we trade when we shouldn’t. We get greedy and hold trades too long or we take profit too soon. Or we make the biggest mistake of them all: we trade with position sizes that are too large for our account size. All of things and more add up to make trading difficult when it should be so simple. So, if you want to start actually making a profit from you trading then stop looking for the newest method or sexy indicator and start working on yourself.
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Great post, Yohay!
Best,
James Chen
yeah look in the the mirror if u wanna know why u keep losing. i laughed my ass ass out when i finally figured that out in the practical way.
i saw this same quote when i was starting out but meant nothing to me until after like 3 years , meaning it took me three years to genuinely figured out the meaning.this same quote was explained in trading chaos by bill william
yeah look in the the mirror if u wanna know why u keep losing. i laughed my ass ass out when i finally figured that out in the practical way.
i saw this same quote when i was starting out but meant nothing to me until after like 3 years , meaning it took me three years to genuinely figured out the meaning.this same quote was explained in trading chaos by bill william
Why aren’t forex so called “experts” speak plain english. Trading psychology, fear, greed and so on makes no sense to the new trader. The most intelligent phrase in this article is this: we trade with position sizes that are too large for our account size. – let me clarify! If you get a margin call before your account suffer a 1000 pips drawdown, you are trading beyond your means. Respect this rule, and you won’t need a system. Just enter a position in agreement with the weekly and monthly trend and wait until you get a profit. Never close a losing trade. Let the broker margin call you if it comes to that and keep your account small (2000 TO 5000 dollars maximum per account) . Open several accounts if you want to trade larger amounts
I searched for 4months for a superior indicator..but i am happy to announce that i came out with the discovery that price is the greatest indicator. Use the prices at supports and resistance. I now have naked charts with price levels at supports and resistances as m indicators. Quite a simple way of trading…and my profits have been quite much with this strategy.
Regards,
Thanks for your comments folks!
Can you say ‘self sabaotage’ ?
Its too easy to our our own worst enemy.