What’s the most difficult thing for you to learn while trading?
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Emotional control over a live account.
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That trading does not provide regular profits in the way most hope.
The idea of earning a certain amount per day is nothing but a pipe dream for most of us.
Some months are good, some are flat some are average.
It took me a long time to accept that - which ironically is when results improve - sometimes quite miraculously.
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You totally got it.
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I struggled the most with controlling my emotions after losing money. I was struggling and wanted to bail myself out by trading, so I took every loss to heart at first. Thankfully, got over it and improved a lot since then but it almost caused me to give up.
Good luck! You got this
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That your strategy and plan just were not good enough. To have to admit that you thought you had a plan but the results showed a slow but steady decline - even after 800 trades. Even correcting errors in your plan.
You realize you have to start all over again. This is my fourth major time in my life. I am much better at it, but I am not consistently profitable.
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Of course, it is very difficult not to do emotional trading. Loss is caused by emotion.
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Money management
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Pls am new in to trading Every thing is kind of strange to me. Am just look for a mentor and I will love it if you will help me out. Thanks a lot
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Consistency and F.O.M.O. are the two most things that I am failing to apply in my trading, ever since I started trading two years back…
Patience, cutting my profits too early for fear of loosing it.
It was quite hard to control my emotions when I strated using live account
Its really hard to accept you have to do simple things to make money in trading. But they need to be very simple things and you need to do them very well. And then just keep doing them.
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Its hard to accept that a not very ambitious trading strategy still does not make a lot of money.
For example, a strategy with a 55% win rate, a 1:1.5 risk:reward ratio, and a 2% capital risk per trade should double your account in 120 trades. Why is nobody doing this?
its the patience
Where price will go next.
The issue is, most traders (including myself) are too eager to trade as much as possible and not wait for quality trades.
So, if you are an end of day trader, it might take 2 to 3 years to get to 120 trades. In terms of time to double your account, that is not such a long time. However, most traders will not be able to consistently stick to the rules for this long.
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Do you mean when your trade isn’t working out, or if you’ve got mounting losers?
I’m new as well, pleased to meet you! You’re Nigerian? Not that it matters but you use “am” and I find a lot my Nigerian friends do the same. Good luck!!!
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By far my biggest difficulty does not concern losing pairs which I cut early - there’s always a better trade awaiting. I hate losing but I hate losing big, more so. I never have mounting losses because I limit my daily risk exposure, which is low.
My FOMO relates to my profitable pairs, which I now aim to control by taking between 30-70% profit and letting the remaining run to a new profit target.