Hello everyone, My name is Bra Kodza ( real name Collin Gonye) I’m so delighted to join you guys here on baby pips community forum. I joined Babypips in April and hadn’t joined the forum but I been reading most of post and and I found it quite interesting. I started trading in 2016 and I have lost quite a substantial amount of money from robots, useless courses and useless mentors who have never been profitable in trading.
I have completed studying Babypips School course and I have learnt a lot from it. I enjoy Trading and would like to learn more about it . My main weaknesses are Displine and Patience. I get a moment of madness at times and giving back all I’ll gained back to the market. Can you please help me how to overcome this? A lot is talked about Displine what is it really I have to adhere to.
Good day Bra Kodza, welcome to the forums. Do your have a specific trading plan and system you are following? Following a trading plan and system is a great way to work on your patience and discipline.
Thanks Josh for welcoming me to the forum, I do have one that I have developed over a period of time. I believe that Trading system is the best for me and it reflects my personality and if I can strictly and accurately follow the rules and I put in place in that Trading system it will provides me with great results and success probability in the near the near long term. But my bad habbit of at times when I’m trading well I just decide to ignore it and start breaking my rules that’s when things starts to go against me.
Hi Bra!
There is a thread around here where a trader and sports psychologist is helping us overcoming psychological challenges.
You may want to read and post there.
I also suggest you to read “Come Into My Trading Room” by Alexander Elder. If you google I am sure you will be able to find the PDF for free.
It helped me a lot with similar issues.
Blessings.
Trasimaco
Thanks mate, for recommending me that book it’s very interesting to read and I’ve realized most of my bad habbits my money management is not up to scratch and I caught from aurthor “when I’m on a winning streak , it’s easy to feel I’ve figured out all of the game then a disastrous loss wipes out all profits tears into my equity. I need a the Shark repellent of good money management.” I keep a journal and I enter everything that will have transpired during my trades and all losing trades I write them in red, but hadn’t bothered to check those losing trades. After reading that book I went straight into my journal for an audit , what I saw shocked me, my expectancy is very low. Losers I let them run than winning trades, positions that I scale in or raise size they become losers. When I lose a trade I double my next trades with even higher lot size.
I would appreciate any further help that would help me deal with this distructive way of Trading.