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  #1 (permalink)  
Old 03-21-2007, 12:46 AM
 

Join Date: Feb 2007
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Default The Hesitant Trader

I have seriously traded the FX markets just this past year and it is just recently that I have realized how important to be able to act quickly and decisively every time you trade. I really hate it whenever I hesitate to make a trade which, in hindsight, would have made money for me. I hope some of the experts can shed light and respond to this, because I've done this (hesitation trading) several times already and I just end up with nothing. It's not that I am afraid of losing money and it's not that I am just picking out my trades out of thin air (in fact I study them before trading starts and after trading ends). It's just that, whenever I see my levels based on my trading plan, I tend to wait for more confirmations and before I knew it, I already lost the opportunity to enter the market and make money.

I just want some feedback on how the others have coped with this. I am assuming that every trader has, at one point in their trading career, experienced this type of hesitation when trading the markets.
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Old 03-21-2007, 01:57 AM
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Originally Posted by moises View Post
It's just that, whenever I see my levels based on my trading plan, I tend to wait for more confirmations and before I knew it, I already lost the opportunity to enter the market and make money.
I know exactly what you mean.
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Last edited by ForexNinja; 03-21-2007 at 02:01 AM.
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Old 03-21-2007, 05:43 AM
 

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Default

This is a very difficult question/situation. There are so many possible factors and most, if not all of them, subjective. There are many resources over the web which you can go through. Try to determine exactly what is causing the hesitation. If you are waiting for too many confirming indicators, then remove the most lagging indicators. If you have too much stress or tension, then trade smaller positions.

Last edited by Pipcrawler; 04-24-2007 at 01:05 PM. Reason: spam advertising
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Old 03-21-2007, 03:47 PM
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Forex ninja, what the hell is that! I've never seen such a flock of indicators, holy crap! I could barely see the chart, did u used to trade like that? Jeez, I still can't get over that monstrocity of a chart. That thing should be sent to hell it's so ugly. Anyways no offence, eh. Thanks for that post though - that is a clear indication of what not to do. On a lighter note, overcoming your hesitency can be overcome through many struggles and pain from missing out on trades, that finally you give in to discipline. Ok maybe that isn't lighter, but it is true. The problem is that when you trade you feel you need to get in the perfect trade. You want to get in where it is the highest point or most profitable, but you have to realize that, the more important thing in the trade is the exit, but it takes tough lessons to learn it. Or, some people want to know if the trade is working, but when it looks like it is, they wait longer for it to go just a bit higher or lower to get in but it doesn't or does and they miss out, and it ends up making a big move in the trade's favour. When it comes down to it, the only to things you need to do is lose fear and gain discipline. The other trader mindsets branch off of these.
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Old 03-26-2007, 02:50 PM
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Quote:
Originally Posted by shadow View Post
Forex ninja, what the hell is that! I've never seen such a flock of indicators, holy crap! I could barely see the chart, did u used to trade like that? Jeez, I still can't get over that monstrocity of a chart. That thing should be sent to hell it's so ugly. Anyways no offence, eh. Thanks for that post though - that is a clear indication of what not to do. On a lighter note, overcoming your hesitency can be overcome through many struggles and pain from missing out on trades, that finally you give in to discipline. Ok maybe that isn't lighter, but it is true. The problem is that when you trade you feel you need to get in the perfect trade. You want to get in where it is the highest point or most profitable, but you have to realize that, the more important thing in the trade is the exit, but it takes tough lessons to learn it. Or, some people want to know if the trade is working, but when it looks like it is, they wait longer for it to go just a bit higher or lower to get in but it doesn't or does and they miss out, and it ends up making a big move in the trade's favour. When it comes down to it, the only to things you need to do is lose fear and gain discipline. The other trader mindsets branch off of these.
Ninja! Give my charting layout back this instant! You obviously used your super ninja skills to hack my network and steal my secret trading code. Fink! (Seriously, I don't even know what a Fink is...)

Shadow, Excellent point. In 4x trading I sometimes get caught looking or perfect set-ups and trades. It's not a problem for me in other instruments. Wonder why? Is it because I might lose or because I might be wrong? Hmmmm... I suppose, ultimately, it boils down to confidence in your trading system and entry/exit rules. Back to work.

Thanks, Moises, for sharing this with us.
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Old 03-27-2007, 03:55 AM
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Originally Posted by ForexNinja View Post
I know exactly what you mean.
Ya'll know my chart is hot.

This is simple. You should see my other charts.

Okay, you know the first post was joke right?

That "ha ha" kind.

Last edited by ForexNinja; 03-27-2007 at 03:56 AM. Reason: Because I wanted to
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Old 03-28-2007, 08:51 PM
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Quote:
Originally Posted by ForexNinja View Post
Ya'll know my chart is hot.

This is simple. You should see my other charts.

Okay, you know the first post was joke right?

That "ha ha" kind.
I like the way your charts illuminate market activity and make it seem so simple... You should start a premium subscription service.
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