As a beginner, I was overtrading. But like Mark said, it was to test different strategies and get accustomed to placing trades in the market. As soon as I carried on this behavior however, it was a detriment to my trading. I had no fear of the markets and placed trades whenever I could be in the market. Now I'm in the process of eliminating the trades that are not within my plan.
Kevin Kang thanks for sharing your story. Some key points in there about sticking to your trading plan and eliminating trades which aren’t in your plan.
This is such a great topic. As a newbie, it's so hard to not feel like you need to be in a trade all the time, but without a strategy and good risk management, it just gives you more opportunities to lose money instead. Trust me, I've been there! :)
Jessica Albret haha trust me, I still don’t know what I’m doing! 😂 been at it for 3 months, started with Plus500 which is pretty simple to use, trying to move on with MT4 and ForexTime as my broker. xx
To be honest, you have mentioned my psychology of trading. I had been tested trade as a climber who tried to conquer one rock, but staying in that position overestimating its ability to climb much higher place. As a result, the climber falls down. So, my trading plan and strategy was torn. After joining to the Falcon, my mindset is completely have changed.
Well spoken, thank you. That lesson was intended for me!!! With time, I've realised that discipline plays a huge role in trading. I think if one can cherish discipline, then they're 70% successful in trading. Risk mgmt needs discipline, patience needs discipline, not being greedy needs discipline, sticking to your trading plan needs discipline, etc. No wonder DISCIPLINED TRADERS ARE TOP. Thanks again for helping me gradually find the highway to being a successful trader. Regards from KENYA.
For me the key has been to reduce how many pairs/instruments I trade. When I started trading just one pair I cut the amounts of trade I place by almost 95% Stick to one chart for one month and see how easy it is to be a trader
Thanks Mark! My main take-away is that its okay to overtrade in the beginning. I am tend towards over-analysing and perfectionism which is just an expression of the fear of taking trades. Thus a time of conscious over-trading with strict risk-management is my approach to let go of that fear.
Traders losses are part of the business . Not just overtrading losses . Find an edge - trade it flawlessly - give it time for the probabilities to play out with a big enough sample size …. YOU WILL BECOME A WINNER .
Jan Španěl The fear of placing a trade comes from the fear of being wrong but if you have a trading plan that you know works then don’t deviate from that.
What questions would you ask yourself when considering to re-enter a trade after being tagged out for BE or a loss? Noticed that was one of my key issues, not capitalizing on trades because I entered early, took a BE and then did not re-enter
I was the exact opposite. I would enter early -> take a loss and then think to myself "If I was early, now I must be on time" and enter again, and again, and again. Take loss after loss until I A) decided price just isn't going to my way anytime soon... or B) managed to eventually get in at the right time and have the winning trade barely cover the losses I got trying to catch the move.
My ways is just simple one day maximum 3 trade not more than and because have a limited trade chance perday then I will wait patiently every trade that I have and then even the chance is more than 3 times I just leave it =)
...the quality of your trades is determined by the quality of your questions. Originally stated, the quality of your life is determined by the quality of your questions by Dr John Demartini
The problem for an addict is even if an addict decides to ask these questions the subconscious mind will overpower it and destroy everything then the impulsive nature will take over😂😂😂. Only thing needed is to REALIZE THAT AN OVERTRADER IS AN ADDICT” ADDICT ADDICT AND AN ADDICT, the sooner you realize you will be wanting to escape from it, it will be like shaking your head when you hit your head with embers of fire😂 just damn realize the addiction then an individual will be able to solve it
Man none of this won’t help! Unless you understand that you are an addict for this stupid trading thing! It’s gambling, in a casino you gamble by betting against the house and in trading you gamble by betting against market! One simple thing to do is trading is risking money, trading means you are going to lose money, trading means you are risking your wealth against sharks! A good trader wait and wait and wait for the perfect level
![VENEZUELA vs. ARGENTINA [1-1] | RESUMEN | ELIMINATORIAS SUDAMERICANAS | FECHA 9](http://i.ytimg.com/vi/SJfoPdeOPCQ/mqdefault.jpg)
As a beginner, I was overtrading. But like Mark said, it was to test different strategies and get accustomed to placing trades in the market.
As soon as I carried on this behavior however, it was a detriment to my trading. I had no fear of the markets and placed trades whenever I could be in the market.
Now I'm in the process of eliminating the trades that are not within my plan.
Kevin Kang thanks for sharing your story. Some key points in there about sticking to your trading plan and eliminating trades which aren’t in your plan.
Thanks Mark...... that's powerful and I'm one of over traders and this will help me a lot
This is such a great topic. As a newbie, it's so hard to not feel like you need to be in a trade all the time, but without a strategy and good risk management, it just gives you more opportunities to lose money instead. Trust me, I've been there! :)
Now you don't sound like a newbie lol. How long have you been trading? And on what platform?
Jessica Albret haha trust me, I still don’t know what I’m doing! 😂 been at it for 3 months, started with Plus500 which is pretty simple to use, trying to move on with MT4 and ForexTime as my broker. xx
@@fernandaherfinancialedit2683 Great. I find having a mentor or coach really helpful. It saves you lots of losses and heartache. Have you got one?
I need a mentor too like really can you help me with that
Thanks mark...God bless you❤
Great video!
To be honest, you have mentioned my psychology of trading. I had been tested trade as a climber who tried to conquer one rock, but staying in that position overestimating its ability to climb much higher place. As a result, the climber falls down. So, my trading plan and strategy was torn.
After joining to the Falcon, my mindset is completely have changed.
o`ktamtoy jo`rayev thanks for sharing your story. Really like your analogy of a rock climber aswell.
Indeed I used to be over trader but this episode helped me a lot to stop it.
Thank's great Salute to you.
Well spoken, thank you.
That lesson was intended for me!!!
With time, I've realised that discipline plays a huge role in trading.
I think if one can cherish discipline, then they're 70% successful in trading. Risk mgmt needs discipline, patience needs discipline, not being greedy needs discipline, sticking to your trading plan needs discipline, etc.
No wonder DISCIPLINED TRADERS ARE TOP.
Thanks again for helping me gradually find the highway to being a successful trader.
Regards from KENYA.
For me the key has been to reduce how many pairs/instruments I trade.
When I started trading just one pair I cut the amounts of trade I place by almost 95%
Stick to one chart for one month and see how easy it is to be a trader
Thanks Mark! My main take-away is that its okay to overtrade in the beginning. I am tend towards over-analysing and perfectionism which is just an expression of the fear of taking trades. Thus a time of conscious over-trading with strict risk-management is my approach to let go of that fear.
You couldn't be more realistic! Very insightful info.. I love that part of overtrading losses being "cost of business"
Traders losses are part of the business . Not just overtrading losses .
Find an edge - trade it flawlessly - give it time for the probabilities to play out with a big enough sample size ….
YOU WILL BECOME A WINNER .
Incredible questions Mark, i am always amazed at your insight into this arena. Thank you so much, very grateful.
Thanks for the video, makes so much sense, this is where I am with my trading as a beginner, so been very helpful. Many thanks.
Very welcome!
90% of trading is simply psychology. But a lot of traders still neglect psychology and focus more on strategies....
Very true!
The first part of the video on hesitating to take trades that go without me is definitely more a problem for me :')
Very helpful. thank you Mark
Falcon changed my life
What are my chances of success with Falcon? If I put in the work, should I expect equal results? Is that probable or possible?
profitable content
Sir please which broker are u using? I'm new to trading
Thanks mark, Got so much value from this video. My question is how do I develop a good trading plan
This exact question will be treated by my Mentor in a few days. Are you new to trading and haven't got a Coach? Let's connect
And what to do when like you said i have fear of placing a trade?
Jan Španěl The fear of placing a trade comes from the fear of being wrong but if you have a trading plan that you know works then don’t deviate from that.
you should have 10m followers.
Please make a video how to make a trading plan!
Papits P Hey we’ve actually got a detailed video on how to build a trading plan on our members dashboard.
Paying for falcon is totally worth it! So much information.
Great Words from Mark. Always love his Content.
Ngl i needed this because i did a stupid mistake thanks
What questions would you ask yourself when considering to re-enter a trade after being tagged out for BE or a loss? Noticed that was one of my key issues, not capitalizing on trades because I entered early, took a BE and then did not re-enter
I was the exact opposite. I would enter early -> take a loss and then think to myself "If I was early, now I must be on time" and enter again, and again, and again. Take loss after loss until I A) decided price just isn't going to my way anytime soon... or B) managed to eventually get in at the right time and have the winning trade barely cover the losses I got trying to catch the move.
this also my drawback. getting irritated days later when the trade played out but i got taken out early.
The quality of your trades will come from the quality of your questions...
Duely noted 🤝🍻
Bro thank you
My ways is just simple one day maximum 3 trade not more than and because have a limited trade chance perday then I will wait patiently every trade that I have and then even the chance is more than 3 times I just leave it =)
thank you :)
I'm always scared to place trades
I think I’m watching too many pairs. I think if I reduce my pairs down to 10 or 8 I’ll be seeing less valid trades
Super good vid
...the quality of your trades is determined by the quality of your questions. Originally stated, the quality of your life is determined by the quality of your questions by Dr John Demartini
The problem for an addict is even if an addict decides to ask these questions the subconscious mind will overpower it and destroy everything then the impulsive nature will take over😂😂😂. Only thing needed is to REALIZE THAT AN OVERTRADER IS AN ADDICT” ADDICT ADDICT AND AN ADDICT, the sooner you realize you will be wanting to escape from it, it will be like shaking your head when you hit your head with embers of fire😂 just damn realize the addiction then an individual will be able to solve it
i already know this isn't going to work for me smh
your daytrading hay, of swingtrading
Man none of this won’t help! Unless you understand that you are an addict for this stupid trading thing! It’s gambling, in a casino you gamble by betting against the house and in trading you gamble by betting against market! One simple thing to do is trading is risking money, trading means you are going to lose money, trading means you are risking your wealth against sharks! A good trader wait and wait and wait for the perfect level
Full copy paste haha
This guy is funny, whatever he said is from desire to trade podcast. Atleast give credit to the real one initially