Anyone else suffer from this . I always feel I need to take every set up and money management seems to go out the window. What’s that all about?
I agree with you and i also don’t make it .
i think over trading is the main cause of margin call. i think we can stop over trading by trade using automatic trading system because over trading is caused by greed feeling. greed feeling caused by lack of emotion control while we trade using manual trading system
So emotion control is really needed, my question is can we then really manage that?
I consider myself to be a practice trader… and after hooking up my system to Myfxbook, sometimes I tend to over trade simply to spike up my numbers and get the feel good factor.
But after doing so for close to two weeks, its a lot more comfortable to place 2 - 3 trades per day, max 4 in case of a losing trade. But yes, i’m currently stuck in a trade which should never have happened. Although it might be purely psychology because if my current trade was in the positive and up by some decent # of pips, I wouldn’t be writing this thread.
I think one of the ways to manage over trading is by keeping an eye on the margin levels.
It’s something you probably want to try and overcome as quick as you can, it doesn’t matter if you’re hitting targets or falling short, over trading can be pretty lethal and you open yourself up to a lot more risk
For 1 year active trading, these is one of my weakness. I am still working getting better at it… Over trading is a killer!!.. Sometimes, you only need 1 good trade in a week to be profitable…
I have found this Article here in BP. Maybe this will help you to “Don’t Over trade” (as the title say).
Don’t Overtrade | Forex Blog: Pipsychology
Have a great weekend!
Sheryl
We all suffered of this it is like quiting smoking, takes years do acomplish. Or is it like trying to meditate or doing yoga, the very first years instead of meditate or doing yoga you only end up sleeping, takes time to master propperly.
2 weeks into live trading I am definitely overtrading my account. Half my problem is I am not focusing on 1-2 currency pairs that I have backtested and are more comfortable with(news events,eod etc…). My strategy can be applied to all currencies(with a bit of bending to my trading plan), obviously this another problem in itself bundled with a bit of greed I imagine. This week I will be forcing to myself to focus on one pair only. Still at breakeven but realistically should’ve been sitting on a small profit.
It takes time and unbearable pain to overcome that stage.