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The #1 problem I had with trading, was during trades I was lowering my profit limit and increasing my stop loss, which means, I was willing to take ANY profit and bigger losses in hopes bad trades would turn around, and that worked against me. If I ever learn to overcome this, I will get back into trading. Paper trading wasn't fun. Shame on me for worrying about what is fun when it comes risking money. I don't think I was properly trained. I NEVER wanted to take a loss, that's bad.
guest2424 2 years ago
@guest2424 That is understandable and you are not the only one who has this kind of problem. When you enter a trade there is a very obvious price which represents the point where you would be wrong if you are NOT entering at the beginning of a trend as expected. If price takes out that stop loss you will look for the next trade instead of moving the stop loss.
tradeartist 2 years ago
@guest2424
This problem is cause mainly by not really understanding why you should enter a trade. Once you see the reason for entering a trade you will never do this again.
tradeartist 2 years ago
anyone can say that he is the succesfull trader...
onlygreenpips 2 years ago
@onlygreenpips
You are absolutely right. Anyone can say that he is a successful trader but very few people document their results like our students are doing regularly proving that they really do know how to trade.
tradeartist 2 years ago
What method is he talking about. Voice not clear. Shubert method?
NaayePrbah 4 years ago
Trading for a living, is very dangerous. If there is no trades to take for a while, you will feel pressured to get in a trade and try to get some money to pay your bills. You can not rely on the market. You should have at least a reliable small amount of dependable income which is not a risk that you can rely on for the term of employment or business. Trading for others, can add more stress so you are wise for not doing it. Stick with what your doing if it's working. Don't limit your income.
guest2424 4 years ago
@guest2424
always good to hear wise advise. trading for a living is very dangerous. Working for a living is very dangerous. Selling real estate for a living is very dangerous. Starting a business is very dangerous. Best to do nothing and experience utter failure and disappointment without trying. ......OR?
tradeartist 2 years ago
The more sources of income you have, the less you rely on each one. Passive Income is good because you don't work for it. Free Savings bank accounts give you almost nothing but there is no risk of losing money.
Trading can be VERY thrilling so it takes self control and planning. You should decide what your willing to lose before you enter a trade and NOT when your trade is failing in hopes (your sure) it will turn around and you end up losing more. I speak from experience which is sad.
guest2424 2 years ago
@guest2424 This is very true. Forex trading is not passive because it takes some hard work. But managed funds are passive. And true you need to not only know how much to risk but where on the charts the stop loss should be places in order to be taken out if the trade is wrong and stay in if the trade is good. That is never an arbitrary number of PIPS that you would like to risk but is a point on the charts.
tradeartist 2 years ago