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Trading on Borrowed Time
Been trading for about a year and have recently formulated a high probability setup that has a good working ratio. The problem that has still plagued my trading is that I seem to always give back my wins. Over the past week I realised that I enter my setup, make profit , feel untouchable, so I don't realise that the setup is changing, it is no longer my set up but i'm still trading.
This article has confirmed everything I was thinking and more. It's helped me realise that my high probability setup has to be enough. Theres no point in trading any other; e.g medium to high setup. If I want to trade more I have to discover another high prob. Setup!
Completely loved the article! I am a professional psychologist specialising in personality and motivation (apart from trader as well) and psychology I would say is the other half to successful trading (first half being a system). Your article focuses on this elegantly! Positivity and self-awareness are key to battling fear and greed which absolutely cripple many effective strategies, and unfortunately leave capable traders feeling and thinking they are completely hopeless loosers (when it is just 1 element of their personality they need to work on, in order to becoming successful). Excellent article! There should be more articles like this!
A great article! A must read for any trader who wants to make it and not blow out in the first few months of their trading career. Some sound advice ... we just need to remember to put it into practise.
