8 Common Problems That 90 % of the Traders Face
Problem 1: Jump into a trade too quickly.
Entering at a worst price than what was planned initially, or entering a particular trade before meeting all the trading rules requirements
Causes & Solutions:
The possible cause is that you are fearful of missing out a trade that will generate you profit or fear of entering at a more expensive price resulting more risk. These are the 2 forces that push the market, fear and greed.
Lack of patient, entering without waiting for confirmation. This will cause you ended up in the wrong trade, and entering the trade too soon will result in you exposed to a bigger risk.
The first solution is pretty simple, is to be patient wait for the entry signal to take place. Do not stare at the chart move tick by tick, your mind will somehow talk you into making the wrong decisions. Instead, set an alert on the charting platform to alert you if the price has reached.
Better still, use the order function in your trading platform, of course, there would be times market is just a few ticks away from filling your order and went into your profit target without you on board.
You need to learn to view trading in a broader perspective and tell yourself this is okay if you miss a few trades because eventually after a large number of trades you will still come out positive.
Last but not least
It is impossible to overcome all your mental obstacles just by reading books or watching videos alone. It requires hours of practices and dedication in order to get your mind reprogrammed. Without this, you will end up making the same mistake you promised yourself not to again and again.
However, with the right framework, this can be done effectively and save you from years of trials and errors, it also means money being saved from giving it to the market.
Learn how our "core of successful trading framework" that helped hundreds of traders around the globe obtaining consistency in trading in as short as 3 weeks time.