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Where Do Our Greatest Trading Mistakes Come From?
Where do our greatest trading mistakes come from while we are trading the financial markets? They arise primarily from within. It is not the price action that causes our missteps and mistakes but our response to the price action.
1. Your ego will cause you to allow a small loss to grow into a big loss because you do not want to be made wrong by exiting with a loss. Ego wants to hold on until you can at least get back to even. Not locking in a loss but holding it until it gets back to even gives the ego some gratification. This is also what creates many resistance levels at old support when people are given a second chance to get out at even.
2. Trading what you think is going to happen instead of what is happening can keep people on the wrong side of trends for days, weeks, and months. Imposing your own opinions on price action instead of following it can cause big losses or to miss big trends while think the market is wrong and we are right.
3. Refusing to see the clear signals on a chart or follow the signals in your system because you do not believe they are correct is a rejection of discipline and reality. Anything can happen in the market it is our job to trade it.
4. Most bad trading decisions usually come from a lack of discipline and self control over the emotions of fear and greed.
5. Putting too much weight on any one trade whether it be through position size or risk causes mistakes. Each trade should be just one of the next 100 with it not being a big deal in the great scheme of your trading career.
Mistakes are when you fail to follow your trading plan. If you do not have a trading plan all your trades are random in nature so they are all mistakes outside a defined strategy.
Where do our greatest trading mistakes come from while we are trading the financial markets? They arise primarily from within. It is not the price action that causes our missteps and mistakes but our response to the price action.
1. Your ego will cause you to allow a small loss to grow into a big loss because you do not want to be made wrong by exiting with a loss. Ego wants to hold on until you can at least get back to even. Not locking in a loss but holding it until it gets back to even gives the ego some gratification. This is also what creates many resistance levels at old support when people are given a second chance to get out at even.
2. Trading what you think is going to happen instead of what is happening can keep people on the wrong side of trends for days, weeks, and months. Imposing your own opinions on price action instead of following it can cause big losses or to miss big trends while think the market is wrong and we are right.
3. Refusing to see the clear signals on a chart or follow the signals in your system because you do not believe they are correct is a rejection of discipline and reality. Anything can happen in the market it is our job to trade it.
4. Most bad trading decisions usually come from a lack of discipline and self control over the emotions of fear and greed.
5. Putting too much weight on any one trade whether it be through position size or risk causes mistakes. Each trade should be just one of the next 100 with it not being a big deal in the great scheme of your trading career.
Mistakes are when you fail to follow your trading plan. If you do not have a trading plan all your trades are random in nature so they are all mistakes outside a defined strategy.
These articles i share can do a lot good to your trading, be sure to read, understand and implement 🧠
To start trading/learning with us from this new week, you may get the service with the link below or send a DM to @bv4rex
https://selar.co/dqsh
https://selar.co/dqsh
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Hello once again , this is to inform you that 3 new episodes of our technical sessions are now available in the BV Study-Room.
Episode 3
Episode 4
Episode 5
you will be able to learn and study more from some of these technical breakdown videos and be better.
check out these sessions and expect more soon, you may access with the link below
https://academy.bv4rex.com/
(BV TECH SECTION)
For any question or support at any time, send me a message on Telegram @bv4rex
#BlueVision
Episode 3
Episode 4
Episode 5
you will be able to learn and study more from some of these technical breakdown videos and be better.
check out these sessions and expect more soon, you may access with the link below
https://academy.bv4rex.com/
(BV TECH SECTION)
For any question or support at any time, send me a message on Telegram @bv4rex
#BlueVision
We are ready for the new trading week, 4 trades opportunities fully explained and ready to be milked from market open in few hours📉📈💰
Live session Recording link below
https://t.me/c/1921931401/1131
Live session Recording link below
https://t.me/c/1921931401/1131
The PPE of trading
Preparation is 40%
Patience is 55%
Execution is 5%
Unfortunately most traders waste a lot of time worrying about "execution" 🧠
#LevelUP
Preparation is 40%
Patience is 55%
Execution is 5%
Unfortunately most traders waste a lot of time worrying about "execution" 🧠
#LevelUP
In about 3hrs 30mins , we will be live on zoom to prepare for the next set of trades for the midweek📈📉