Have you ever noticed that your market analysis is quite accurate, and the market moves as anticipated, but by end of day, you still closed in losses?
Or
When you give people trade analysis/signals, they make money, and you lose money instead?
Or
You are in a signal channel where everyone is making profit but you?
Get in here, let's talk...
Or
When you give people trade analysis/signals, they make money, and you lose money instead?
Or
You are in a signal channel where everyone is making profit but you?
Get in here, let's talk...
Before you continue reading this thread on Execution issues and solution tips, please ensure you follow these handles on X app for purely informative contents on trading: @_THE_CRAFT3R_, @AlegeOfficial, @vee_anibe,@JustShemaBaby, @chaxbtbg, @BigMoneyMaestro, @forttunee_, @Investor_ruthh, @joshekwunife, @DeanMichealsMDP, @Fairy_Trades, @uncommonkvng, @MoneyTradeEdge, @speedouFx, @isaacoladipupo_, @IDOWUADEKANBI, @Order_Flow_godd, @QueenTea, @fisayo_dr, Â @YareemaFx, @Akiindamola, @Mike84054545, @Kelvintalent_, Â @Usman_Igwe09, @DenizTheTrader
1. Taking too many trades per day - Many developing traders believe that because they know the bias for the day, they can just wake up and buy or sell the market.
Well, if you had enough capital (like Dangote and his peers), you can do that repeatedly and be profitable. However, your capital is very limited, it is important you use your small capital for the best trade opportunities per day.
In some signal channels, if 10 signals are given in a day, you want to use your $100 for the 10 signals… It is wrong.
Set a maximum risk amount per day, divide that into the optimum number of trades to be taken per day and adhere to it.
Well, if you had enough capital (like Dangote and his peers), you can do that repeatedly and be profitable. However, your capital is very limited, it is important you use your small capital for the best trade opportunities per day.
In some signal channels, if 10 signals are given in a day, you want to use your $100 for the 10 signals… It is wrong.
Set a maximum risk amount per day, divide that into the optimum number of trades to be taken per day and adhere to it.
2. Taking trades without confirmation - This can be likened to a soldier going to battle without his general’s approval.
The market is our General in trading and the market has to give you the go ahead before you move forward to take the trade.
I see a lot of developing traders getting stopped out easily because they move ahead of the market and the market collects their capital before moving in their expected direction.
Beyond your trade analysis, have a confirmation setup that you must see before you take the trade.
The market is our General in trading and the market has to give you the go ahead before you move forward to take the trade.
I see a lot of developing traders getting stopped out easily because they move ahead of the market and the market collects their capital before moving in their expected direction.
Beyond your trade analysis, have a confirmation setup that you must see before you take the trade.
3. Using random lot sizes - I used to trade like this, and I can tell you with my full chest that there is no profitability nor logical reasoning behind this.
Trading with random lot size is actually a form of gambling in trading. Some tend under-risk while many over-risk when using random lot sizes to trade.
Be deliberate with your lot size as it determines your risk per trade.
To solve this problem, take a few minutes to use lot size calculator going forward.
Before you take a trade, know what you are willing to lose and use the appropriate lot size.
Trading with random lot size is actually a form of gambling in trading. Some tend under-risk while many over-risk when using random lot sizes to trade.
Be deliberate with your lot size as it determines your risk per trade.
To solve this problem, take a few minutes to use lot size calculator going forward.
Before you take a trade, know what you are willing to lose and use the appropriate lot size.
4. Taking random trades based on the market ticks - Many developing traders tend to get emotional after a series of wins or losses and they stop trading in line with their trade plans.
They just click buy and sell with every market tick. It is not a rational or logical action…
The solution is to just stop trading and come back the next trading session. By the next session, your mental resource should be revitalized, and your logic should be back from wherever it went to...
They just click buy and sell with every market tick. It is not a rational or logical action…
The solution is to just stop trading and come back the next trading session. By the next session, your mental resource should be revitalized, and your logic should be back from wherever it went to...
5. Cutting profit short - Dr David Paul (may his soul continue to rest in peace) once said in an interview that profitable traders are pessimistic when their trades are running in losses and optimistic when their trades are running in profits while developing traders do vice versa.
In summary, mentally work on your mind to be comfortable when your trades are running in profit and be uncomfortable when your trades are running in losses.
In summary, mentally work on your mind to be comfortable when your trades are running in profit and be uncomfortable when your trades are running in losses.
6. Trading continuously for an unusual long periods - See, I understand the pressure of seeing traders daily on social media posting 10R, 50R and all that. But because of this, don’t become chained to the market by looking at the charts all day long for every possible opportunity in the market (like a security man).
From when you wake up till when you sleep, you are looking at the charts on your laptop or on the go via your phone and even when you sleep, you are dreaming about the charts. Haba!!!
You have to stop this habit immediately because "for the eyes prolonged on the chart, the market creates mirages to collect your money".
Instead, back-test and know the time/period when the market is likely to present you with opportunities based on your strategy or set alarms at your AOIs and don’t come back to the chart till the alarm rings.
This would preserve your mental capital.
From when you wake up till when you sleep, you are looking at the charts on your laptop or on the go via your phone and even when you sleep, you are dreaming about the charts. Haba!!!
You have to stop this habit immediately because "for the eyes prolonged on the chart, the market creates mirages to collect your money".
Instead, back-test and know the time/period when the market is likely to present you with opportunities based on your strategy or set alarms at your AOIs and don’t come back to the chart till the alarm rings.
This would preserve your mental capital.
7. Adding to losing trades - Developing traders… in a point above, I mentioned that you need to start getting uncomfortable with losing trades.
Currently some of you are so optimistic about losing trades that you add entries to a losing trade.
This is one of the worst habits a trader can develop, and it takes years to unlearn it.
Going forward, make a decision to stop taking more trades when in losses and try to stick with it. Eventually, you would become a better trader because of this decision.
Currently some of you are so optimistic about losing trades that you add entries to a losing trade.
This is one of the worst habits a trader can develop, and it takes years to unlearn it.
Going forward, make a decision to stop taking more trades when in losses and try to stick with it. Eventually, you would become a better trader because of this decision.
I would stop here for now… if you are experiencing any other bad execution habits and you want me to give you tips based on my experience, simply drop a comment below.
Do not forget to like and repost this thread, so the algorithm would spread this thread to other developing traders in need of this information.
Also make sure you follow the handles mentioned earlier for other great trading contents!!!
Do not forget to like and repost this thread, so the algorithm would spread this thread to other developing traders in need of this information.
Also make sure you follow the handles mentioned earlier for other great trading contents!!!
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