What's your greatest psychological challenge as a trader?

I think it’s greed. Main challenge which I face everyday and almost every time lose. Need to completely overhaul my trading strategy I think

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Not a bad idea. Thanks for responding :+1:t3:

My greatest psychological challenge is feeling guilty for taking so much money from the opposing side of my trade. :rofl:

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LoL

Imagine your opposite side is MM, bank and etc maybe u will feel less guilty :joy:

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@Trasimaco, I had the problem of overtrading once I resolved it I had the problem left of letting losers run. Overtrading comes from greed, not closing losers comes from “I’m not wrong, I didn’t make a mistake” believing the market will turn around and agree with your decision. Not.

It stems from our upbringing and can be very hard to change and accept that I made the best trading decision I could from the available information at the time, I traded well. The market sentiment went another way, oh well close the trade. I can always re enter should the market change its mind and meet my trade requirements.

One of my instructors puts it this way “I am the best loser I know”.
no emotion, no revenge trading just close the loser and move on.
There is always another trade.

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Even so, I still feel guilty. I know those honest institutions worked so hard for their cash. :smile:

Nice I want to feel that every day. I really love this feeling but it’s rare when it comes to me.

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Something to think about, thank you.

K, if you are on a retail platform. Ahhhh never mind.

The Ever Never Minding VIPER

It’s called a joke, mate. Toxic _bob must be rubbing off on you. :smirk:

Mate, you can do meditation; maybe it will help you! Because, I was with the same problem and now I do meditation in every single day & I see my improvements.

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Thanks! I’ll definitely do that. I think maybe meditating in the mornings after getting up, and before sleep is best

Nice to know your current status of trading mate! Really, it takes such a long time! On the other hand, the beginners problems are too common; like fear, greed, emotions, anxiety etc.

My biggest challenge is learning how to wait. The market is not doing anything I can analyze or understand? Great, don’t do anything until that changes! Which is much easier said than done.

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Yesss, patience is definitely something I need to continue to practice. It’s better to wait for your entry, then to just jump in at the wrong time, and then the market suddenly moves against you. Wait for that retest lol

Exactly, a perfect plan! Just go for it and keep repeating! All the best.

There are two big challenge as psychology factor that very influenced during trading first is about greedy, as human nature actually want to make big profit, but greedy often being reason why trader fail, then second is fear, this is also as one reason why trader can`t implement proper plan trading because fear when they look on floating loss and scared if later will leading to make bigger loss then leading them to closed order with reason fear to lose more

What’s the proper way for mediation to clear mind from the thoughts of market revenge? What do you think?

ljtd7

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Exercise. Do something physically exhausting, that will get your mind off anything - at least for the time being.

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