I keep sabotaging myself

You’ve just answered you’re own question three times in the same post, you just need to have a stop loss on every trade! I risk only 1% or less of my account every trade I do.

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Sure, I agree with you on this issue of self discipline. A trader can have a very good trading plan and a lot of knowledge of technical and fundamental analysis. in Forex trading but still fail. But why? Because of lack of discipline. Ensure you also have stop loss whenever you trade

I keep sabotaging myself.

There is not two of you,

There is you and there is your ego.

Your ego is sabotaging you because it has a need to be right.

Catch it before it controls what you do.

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Use automatic trading software which places predefined stop loss automatically. It should protect your manual trading from mistakes stemming from emotions.

Sorry for what you’ve been going through. I feel it is simply because of lack of trading discipline. Try sticking to your plan as much as you can and see where it takes you. Dont let self-sabotage bring down, but rather purpose to learn from your mistakes. Good luck

Trading requires proper planning, but if you created good plan, but something hold you back from following it you need to search the reason. I would say that this is usually happens because somebody is way too emotional and emotions keeps him away from trading. Or this is strategy, which you need to revise.

we’ve all been there :slight_smile: write down your rules and stick to them … also 50-SMA :wink: Only look for BUY opportunities above 50-SMA, and only look for SELL opportunities below 50-SMA … further increase your odds of winning by aligning this concept across multiple TFs … if you’re still losing more often then not, not following this very simple concept is one of the reasons why :slight_smile: and stop over-leveraging there is no such a thing as overnight millionaire … treat your account as a business, pretend you have employees you have to pay, family to feed that should curb your need for gambling #freeadvice

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Who is this Peter Brant?

I can’t find any Peter Brant trader who risks only 0.6% and has 50% or +60% per year.

Only found a Peter Brant who was sentenced to jail and fined for insider trading.

Where can I see the details about such Peter Brant who risks 0.6% and makes 60%?

You may feel better if you know this kind of mistake is very common, it may happen to experienced traders too.

Some people call it risk spike.

I have made a similar mistake. Well, it is not exactly position size or no stop loss like your case. But a mistake I was aware of. I didn’t follow my plan. I didn’t do what I knew I should do, because of greed and excess of confidence. The result: a huge DD. My acc went from $62K to 27K. It hurts very, very, very bad!

I made this stupid error, despite I am very disciplined, and I am a long term meditator (having been meditating for many years).

After this very stupid and hurting error. I decide to read my trading plan every day. And the first paragraph of the plan says: “I follow this plan to the letter. If I want to change something, I must analyze it and make a decision in writing, then I will modify my plan. I can do something different only when the plan has been modified”.

I read my plan every day. Since I think it is the only way to make sure I will follow my plan.

Now return to your situation:

If I were you, I would use this technique: write with a pen on a paper this affirmation 15 times “I always use stop loss and riks only 1% per trade”.

Write it 15 times before you go to bed at night. And 15 times before you start trading every day.

Write it on a paper using a pen.

Do it for 6 months at least.

Wish you great success :slightly_smiling_face:

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Peter BranDt (I made mistake with his name) is a professional forex and commodity trader, he has written ‘‘diary of a professional commodity trader’’, has been interviewed in th podcast chat with traders. The guy uses classical technical analysis only, and trades only a few hours per week trading long term charts and risking very little, yet he is consistently obtaining great results. It is not my style of trading but I found it very insightful.

Hi JoaoAndre001

I have the same performance pattern as you have narrated. Concentrated on Fx and kind of doing well until I decided to try S&P, then lost heavily as this was too much for my account. Only difference, I don’t feel like giving-up.

Exactly; meditation is very much useful practice; now I can handle my emotions so smoothly because of my long term meditation habit.

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agreed there, it is vital for trading, mindset is 90% of what makes a successful trader and to always learn. Yoga is good too

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Thank you for the insightsful input, I have been battling with self sabotaging myself.

I hear what you are saying, your message speaks to me

Thank you, im sure have helped many of us than you can think.

The answer is easy. Stay strict to your plan. I know what happened. When everything is going fine you lose attention and the mistakes come easy so stay focused all time. Also do not trade DAX and others like it before you mastered the forex. Every little mistake in indexes is highly punishing.

If happens to all of us. The little greed gremlin pops on your shoulder and tells you to bet more or that you should have bet more. “Bet” being the dangerous word. Hang in there and stay calm when you’re placing trades. It will come with time also :slight_smile:

I put your scenario to my guru and his answer was just one word…Patience !!.. he said you had no control over your patience and that you will continue to lose if you cannot bring it under control.

He said the market consists of 2 elements…price and time and according to W D Gann… Time is the more important… you have focus on price and ignored time and you will never win on the markets if you cannot respect time. The only way to handle time is to use patience !!!

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Get back to practicing, more training, learning and then try real money!