As a beginner consistent trader...

Discussion in 'Psychology' started by Leob, Nov 27, 2021.

  1. Leob

    Leob

    #11     Nov 27, 2021
  2. Leob

    Leob

    Simple as that.. I know..
     
    #12     Nov 27, 2021
  3. easymon1

    easymon1

    Is that good or bad?
     
    #13     Nov 27, 2021
  4. Leob

    Leob

    Have clear answer to those 4 Q..
     
    #14     Nov 27, 2021
  5. Leob

    Leob

    That something good. I can try to be more time in focus with demo..
     
    #15     Nov 27, 2021
  6. easymon1

    easymon1

    When in cash (not demo) do you follow your step 2 - What triggers an exit?
     
    #16     Nov 27, 2021
  7. easymon1

    easymon1

    What timeframe charts do you like to trade?
     
    #17     Nov 27, 2021
  8. newwurldmn

    newwurldmn

    Protecting your winnings is really important.

    this weekend a relative shared an interesting idea with me: “you only get rich once. Preserve it”
     
    #18     Nov 27, 2021
  9. easymon1

    easymon1

    If you have a solid trading plan, but no rule to not to enter a trade when you are up over X dollars and no rule to (and not to) trade during certain hours of the day? etc. then you are mortal and making errors just like every other human trader. Welcome to the party. If you're interested in changing that situation and reducing your trading errors then here's a simple easy way to get started the very next time you trade no matter whether it is in demo or for money. Wanna hear it here it goes.
    https://www.elitetrader.com/et/threads/trading-how.363022/#post-5493985
     
    #19     Nov 27, 2021
  10. I'm no expert, but it could just be your subconscious mind reacting to your lack of risk management.

    The state of mind that drives you to protect yourself at all times will eventually move you to test your trading plan, develop an understanding of how it will endure the fat tail price moves and set you free from obsessing about keeping your gains. It will also show you how superlatively important an exit strategy and bet sizing is.

    Big positions on intraday moves are stressful because you can get wiped out on a limit move due to some news that comes out, or if you lose your pc or internet, or just make a mistake.
     
    #20     Nov 27, 2021