How To Remove Doubts, Uncertainty And Fear In Trading 🤘
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- Опубликовано: 9 сен 2024
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How To Remove Doubts, Uncertainty And Fear In Trading www.financial-s... PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! How to Manage the Uncertainty in Trading - 5 ways to manage the uncertainty and risks of trading. First of all, what is the uncertainty of trading - how do you deal with the mental aspect of not knowing whether the next trade is going to be a winner the next day, the next week, the next month..etc? Unlike many other careers or jobs where you know that if you follow a process the outcome is known - in trading it doesn't work like that - you can do all the research you want and have the best strategy in the world before entering a trade yet you might still end up losing money. Many people can't deal with that uncertainty.
1) Manage and Accept the Risk. This is what you're prepared to pay to play this 'trade' - that way your mind will re frame and help you manage the trade better.
2) Focus on the process not the trade - once you crack this it will really help you focus better - eliminate distractions like flashing running profits or losses or minutely charts.
3) Recognise your edge. You make money in trading by having a statistically positive edge that over time is going to make money for you. Now that can be anything.
4) Never put too much weight on any one trade. That is both financial terms and emotional terms.
5) Stop thinking in terms of win/lose.
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Well after watching 20 or more of your video's and having watched so many other video's, I feel well versed to state that you are a brilliant "teacher". Your style and capacity to deliver your knowledge in such an affable and informative way is a credit to you and this channel. Many thanks
Great lesson thank you. But I would add advice number 6 that engage yourself in non trading activities like assign few hours to family, gym, gardening etc to be away from the monitor. This helped me.
That is the video I needed right now. I have so much doubts and fears when I'm live trading, no matter how well I do with paper trading. I needed this to boost my confidence. Thank you so much!!
The mental aspect is the toughest aspect. Tougher than any other thing I have ever faced which includes starting a business that I ran successfully for 8 years and the first 2 were seat of the pants.
For that last point, one way I like to think about it is losses = operating expense. Kind of like a business attempting to acquire a new customer, losses are the cost of doing business while wins are like the successful acquisition of that customer!
This video is so spot on in terms of the mental side of trading. Which, if anyone here has actually traded can agree that this game is 90% mental. Thanks for sharing such great wisdom on managing the trade and also your expectations throughout the process.
That's an excellent way to look at the risk. It's $$ gone when you make the trade.
love hearing how you communicate ideas so effortlessly, and genuinely. not many humans can do so, even if they truly wanted it
Thanks! I can't believe how this channel always provide the videos that are the most relevant to my trading needs... for free!
For me this is one of the best videos on this channel.
Definitely one of the best!!!
This is what I needed to hear tonight. I have been doing several, if not all, of the things you mentioned and now I know what to start doing instead. Thank you so much for your videos!
Great video, I like what you said about "wins & lossess' what I did was take the terms "wins & lossess" out of my trading vocabulary instead I use the term that trades are either "profitable, or unprofitable" when one says the trade was either a winner, or loser there is a mental attachment to it; if we know it or not. Having many wins, or losers this can be damaging mentally to a person, but what the concept trades are either profitable, or unprofitable it takes away the mental attachment to it.. This what I use to help me out.
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My third go at this video. So important for me.
I have a 5000 dollar account. Yesterday I shorted 1 MNQ contract at 15050 with a stop at 15300. That was 500$ risk. 10% price went up and I chickened out and got out with a 200$ loss. The next morning it dumped and would have been 300$ in profit
Mark, simply thank you.
Ace video mate. Many many thanks ! !!
Great vid thank you. I find I torture myself by watching open trades too much
The only real way to remove doubts, uncertainty and fear in trading is to know exactly what you are doing not in the fireworks display you perceive to be observing but in the real war you find yourself in. As the great majority ignore this that is why they lose. If it were not so funny it would be serious I kid you not.
Simply brilliant !!...got a crystal clear view about the mental aspect of trading that is so important!!
Your video helps so much. Thanks again
Brilliant.... information.... thanks for sharing your positive experiences.... makes a lot of sense when one is in this position. 👍👍👍
You are my favorite trading strategy teacher 👨🏫
I really can't thank you enough for all of these videos!!!
Thank you so much. This is a real gem.
NICE - THANK YOU FOR THIS VIDEO - helps with the emotional side of trading
thanks also trading in the zone book helps me a lot thanks
gold. thank you!
Sweet info! Thanks!! 🎉
Fantastic Video! This has really helped me shift my perspective on trading!
Very helpful video 👍
Great teaching. Thank you
Great great video
you are the best my friend
a high yield video thank you
One of my Favorite Videos!
Wow, thank you very much for this important video.
Nice Vide, keep it up
Thanks for the great sharing :)
What do you think about back testing and in your opinion how is it done properly?
thanks will address this in another video at some point.
thank you!
Excellent Video
good video. Thanks
Brilliant.
What’s your personal experience? Year on year profitability. Has anyone achieved that ?
great
Very good 👍
Good video
Bb