Ways Your Mind Tricks You Into Being a Losing Trader! ๐Ÿ™„steemCreated with Sketch.

in bitcoin โ€ขย  7 years agoย 

Losing Traders

  1. I don't need stops. Don't take me wrong, there are some experienced traders out there who trade with stops; they've devised other ways to manage risk. But these guys are disciplined enough to pull the trade when they know its not working.
  2. Pinning your self-worth on your last trade. It doesn't matter how good or bad your last trade was..
  3. I've had a good run, time to increase size. I've talked about this before and when it might be appropriate to increase size. Increasing size needs careful planning
  4. I always lose money in that market. This creates negative connotations.
  5. I've backtested the system, it won't lose.
  6. I need to be sure that my next trade is a winner.
  7. I've been losing but I'll increase my position size anyway.
  8. Why did I hesitate? If you believe in your trading system you would not hesitate; you would simply pull the trigger.

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