Most Traders lose money
This is a fact; 99% cannot seem to find a way to extract profit from the markets with any regularity
This is why the good traders make such outsized gains, we collect the monies of the impatient, inexperienced and uninitiated
(we will call them iiu)
This is a fact; 99% cannot seem to find a way to extract profit from the markets with any regularity
This is why the good traders make such outsized gains, we collect the monies of the impatient, inexperienced and uninitiated
(we will call them iiu)
The iiu group does one certain thing relentlessly
Some times its called revenge trading, or chasing price sometimes its just called stupidity.
But its human emotion that causes these actions
iiu act like this;
*gets trade idea, *checks their FA or TA(hopefully)...
Some times its called revenge trading, or chasing price sometimes its just called stupidity.
But its human emotion that causes these actions
iiu act like this;
*gets trade idea, *checks their FA or TA(hopefully)...
*enters market-order or Limit right near current price, *moves Limit 5x chasing price, *immediately takes small profit, *slow to realize any kind of loss(which makes the losses larger and untakeable)
Good Traders work like this;
Looks for an idea to trade off of, *finds idea....
Good Traders work like this;
Looks for an idea to trade off of, *finds idea....
.. & determines the best way to put that Risk on, *WAITS PATIENTLY for their Entry-trigger, *Once Risk is on their main concern is Minimizing/Mitigating any losses(keeping them as small as possible), *Close out Trade per their Rules & Market conditions, *Debrief once Closed out,
& most importantly
I cannot stress this enough-MOST IMPORTANTLY
....
*Blank-space & Let Go of last Trade
I keep the lessons from the last Trade, but get rid of the emotions, biases & outcome(s) as much as possible. Until I've sufficiently Let-Go, I will not enter the next Trade
I cannot stress this enough-MOST IMPORTANTLY
....
*Blank-space & Let Go of last Trade
I keep the lessons from the last Trade, but get rid of the emotions, biases & outcome(s) as much as possible. Until I've sufficiently Let-Go, I will not enter the next Trade
In closing I'll leave you with this
Patience is a Virtue...
And Self-Validation is Profitable
Cheers
Patience is a Virtue...
And Self-Validation is Profitable
Cheers
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