There are some points in your entire trading experience that you felt like the market hates you and nothing are really going your way. In these scenarios, what do you often do? Do you move backwards and try to get back your focus? Or do you try harder to prove that you are better than you think you are?If you are doing the latter then you are pretty prone towards forcing your trade. This does not only include getting trades that do not meet by your trading rules. These trading restrictions sometimes take place when you are desperate about making things happen rather than easily reacting to what is really happening.
WHAT IS THE IDEA?
What is quite interesting is that that the attributes of ay thriving trader, like being aggressive or competitive may also lead to probably downfalls. A very cut throat trader can have problems being calm while caught in between a losing streak which them leads to over leveraging or over trading just to have his/her cash back.
The idea the regularly divides profitable traders from the group are that they can control their trading decisions as well as their emotions. A great way to control these elements is by transforming your trading rules to positive trading habits.
Initially, following your own rules about risk management, leveraging, position sizing, and loss placement prevention may be very challenging. But if you are hopeful towards making up for your personal losses, you will most likely be lured to trade without stopping and take more risks. In such a scenario, you have to remember that trading is all about grabbing chances when they are there rather than chasing them around the market. The fact is that you have no control whatsoever of market moves, but you are in clear control of your personal preparations and reactions to these market movements.
Famous trading psychologist, Dr. Brett Steenbarger compared trading to waltzing with trading markets where traders have to agree to the market and that it is taking its lead. If you try to lead the trading market by assuming future action of prices, you may fall over and miss the chance on more gainful moves. The only thing that you have to do is by getting the correct timing and being in sync with market movements.
FINALE
Trading is a tough process. You have to be very patient about making your moves.