What are your fears/obstacles when it comes to trading
used to be losing all of my capital, but with proper risk management there’s no need to be scared lol
That is a truism that took me 18 months to learn with maybe 50K trades and 40K hours of screen time.
The good news is if I can so can all.
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And you were consistent with the process, right? Like you made sure you put in time to study every single day, cuz that’s exactly what I’m doing, and I’m definitely seeing how much I improved since I started
And how’re you getting on with the maths?
But anyway, while that is undeniably a serious level of dedication, what sort of strategy would take 40k hours to reach profitability?
My spreadsheets a very week, my math is not much better.
I do my trade analysis with a spreadsheet but largely by hand in the spreadsheet.
I call this homework or postmortem.
A few items every trader should know.
- expectancy
- winners in a row and average winner
- loser in a row and average losser
4, time in trade average
refinement started after that knowledge is obtained.
If you have the ability to look back at your trades that will help with learning support and resistance.
If you have the capability to do plot trades that will accelerate you application of TP and SL.
Consistent with the process, more like driven.
Once one understands price action most any system will work.
It’s not the system that makes the trader but the trader tham makes the system.
Its all about control and patience, the psychology of a trader is tantamount.
It is said trading is 10% strategy and 90% psychology.
Identifying and controlling/fixing these trading demones is numero uno!
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I agree that psychology plays a big role in trading. After all, it’s quite hard to control emotions and achieve high level of patience. I’m still struggling sometimes to be patient enough and not to take a decision driven by fear or greed. But these flaws need time to be overpowered. Often, if I start to feel insecure or scared, I begin to make some analysis in order to distract myself from these emotions. Maybe it’s not very healthy practice but it works for now.
I started from Zero background! So, I was scared actually because of hearing 90% traders are losing money here!