Taking time off from trading

Agreed! Patience is the key. It is tempting to rush but slow usually leads to better results. How do you manage your trades to avoid the impatience?

 

You don't need books. Just remember this:

More than 90% of traders consistently lose money.

Even when everything is clearly laid out for them in front of their eyes, as in the chart below, those 90% will still end up losing money. Hence, losing traders are YOUR edge. Their money is yours to take. That will be your key to success.

 

I don't really make a lot of trades just maybe one or two and if I'm in I am there checking them throughout the entire day and if they look good for a longer run I just let them be without any TPs or SLs most of the time, but based on the strategy that I mentioned earlier, non of the trades really last any more than let's say about two to three hours, which I manage in person by watching the damn thing the whole time xD

 

Intense.. haha! Did you feel like watching all trades all day do add pressure or help to stay in more control?

 

If it were that easy.

 

Well I can only speak for myself and for a person like me who is a bit of a control freak, I like to be there checking the entire thing while its going down, I feel much more comfortable when I'm on it myself. So, for me it definitely helps with staying in control, if I'm not checking it myself I will be feeling a lot more pressure then.

 

I totally get it. Do you ever find it hard to step away?

 

I do in fact find it difficult to leave the trades on their own, but overall no, I don't wanna keep stressing myself out any more than I have to.

 

I get it. It is important to step away from it. Does it help to improve the performance?

 

Not necessarily but it helps you keep a cooler head so I guess it sorta kinda helps.