In trading, execution consistency always precedes consistent profitability. Execution consistency is the ability to act at the right time in the right manner. A method with an edge and a great trading plan is not sufficient to make us profitable. We need to execute the plan flawlessly without hesitation.
This is a major roadblock all the traders face. It is extremely frustrating to see an identified trade moving without us. Why we are not able to pull the trigger at the right time? There could be many reasons. Some of them are no trust in the method, fear of loss or being wrong, Perfectionism and past bitter experiences. May be we are having one or more of these problems.
It is extremely important to identify the real problem and take corrective measures. But it is easier said than done. In my opinion this hesitation is due to the interference of the sub conscious. Our sub conscious is not synchronized with our analytical; rational conscious mind. The real challenge is convincing our sub conscious that we are acting on our best interest so that it will not override. Till then our execution is going to get blocked.
Is there a practical actionable solution for this problem? All these hesitation will get solved automatically once we become consistently profitable. But we cannot achieve consistency without proper execution. This is an egg chicken syndrome. Where do we start?
The best way is to sit beside an expert profitable trader and watch him trade and make profits. Most of us are not lucky enough to have such a person in our family and friends circle. Very few people can join a proprietary trading concern and get trained. So we have to try less efficient methods.
What I am doing is, I have set aside some amount as tuition fee. I don’t care even if I lose the entire amount trading. I am currently trying to execute my method flawlessly not caring about the profits with minimum allowed position size. Of course I am progressing well but it is taking more time than I thought earlier.
Do you have hesitancy in executing the identified trades? How you are dealing with it? If you could overcome it, how did you do that? Your feedback will help a lot of novice traders.