The best thing you can do for yourself as a trader
I want you to stop thinking about your entry system, about the way you analyze the market, about trade management and I want you to think about RISK…
Accept the fact that every time you place a trade, the market has the possibility to move against you.
Accept the fact that sometimes the market moves in unexpected ways and there is nothing we can do about it.
Accept the fact that you are going to lose some trades, you just need to limit the downside.
Accept the fact that trading is a probabilities game. You just need to make sure to make them play in your favor.
Anatomy of a trade
This is what the thinking process of a trade should be.
You open a trade and decide to risk 40 pips for the possibility to make 100 pips.
What you are saying here is that you want to make 100 pips, and you are willing to lose 40 pips for the possibility to make those 100 pips.
You see? You are risking 40 pips…
Now, sometimes it makes sense to take partial profits, or to trail your SL level, etc. But everything should be in your trading plan.
So if you are going to move your SL level, do it because of a sound reason, not because you dont want to lose.
Same thing when you want to take partial profits, but please do it based on your trading plan, not because you “think” the market will do this or that.
For some traders (specially newbies) it makes sense to set and forget about your trades. Or even advanced traders that cant handle emotions might find it useful.
But please next time you open a trade, be willing to lose.
Again, it seems like a small thing… but it can have a great impact in your trading results.
I can tell you this is the one of the things that had a great impact on my results, and I bet it can have the same impact on yours.
Think about this… because if you are not willing to lose, then trading might not be the best for you.
If you have been struggling with this, I have a coaching program that can help you trade with good results.
I want you to stop thinking about your entry system, about the way you analyze the market, about trade management and I want you to think about RISK…
Accept the fact that every time you place a trade, the market has the possibility to move against you.
Accept the fact that sometimes the market moves in unexpected ways and there is nothing we can do about it.
Accept the fact that you are going to lose some trades, you just need to limit the downside.
Accept the fact that trading is a probabilities game. You just need to make sure to make them play in your favor.
Anatomy of a trade
This is what the thinking process of a trade should be.
You open a trade and decide to risk 40 pips for the possibility to make 100 pips.
What you are saying here is that you want to make 100 pips, and you are willing to lose 40 pips for the possibility to make those 100 pips.
You see? You are risking 40 pips…
Now, sometimes it makes sense to take partial profits, or to trail your SL level, etc. But everything should be in your trading plan.
So if you are going to move your SL level, do it because of a sound reason, not because you dont want to lose.
Same thing when you want to take partial profits, but please do it based on your trading plan, not because you “think” the market will do this or that.
For some traders (specially newbies) it makes sense to set and forget about your trades. Or even advanced traders that cant handle emotions might find it useful.
But please next time you open a trade, be willing to lose.
Again, it seems like a small thing… but it can have a great impact in your trading results.
I can tell you this is the one of the things that had a great impact on my results, and I bet it can have the same impact on yours.
Think about this… because if you are not willing to lose, then trading might not be the best for you.
If you have been struggling with this, I have a coaching program that can help you trade with good results.
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