I am not an expert in trading. I do make mistakes all the
time.
In fact, there are no experts in trading. If somebody claims
to be an expert in this field, he is a fraud. There are many people who are much
more skilled and experienced than you or me. Skill and experience makes one consistently
profitable.
Most of the traders are well aware of many profitable patterns
and setups, still they fail to make money. why?
You may be having a trading plan with a proven edge. Still
you fail. Why?
Knowing the patterns and having a trading plan is not enough.
It is all about execution of your plan. It is a lot harder than most people
think. When we see a setup that fits our rules we have to take it. Most of us
are discretionary traders, so we have to think about our entries and exits. But
when we see them, we have to take them whether the trade works or not.
If you freeze and you are not able to pull the trigger at
the right time, you are not going to win in this game.
Execute or be executed. Believe and achieve...or doubt and
die
Very true , its not at all easy to execute the trading plan that we make. It takes hours together to analyse , study patterns and then make a plan , and when that number flashes its a total freeze :)
ReplyDeleteBy the time we tell ourself , no You got to take that trade you did not do all that study to freeze like this ....and by then prices are already way past your entry . And when I do not freeze and tell myself ahead of time that execute ...its a losing trade 3 number of times out of 5.So many things to work on . I am determined to stay .
smita
ReplyDeleteThanks for visiting
Please continue and write your suggestions and opinions
ST
very well said it is fear inside us who always suggest that it will be a loosing trade
ReplyDeleteand
whenever we think that it is right trade than it always turn to a loosing (7 out of ten times)
this is due to hope.