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When a trade isn't working there is the potential for a serious blow to your psyche. However, with a little talent you can regularly turn things round. Here are 7 pointers to help you.
Question Your Expectations
Maybe your trade move was primarily based on rumors that have no foundation in fact. You could be wrongly considering market dynamics or have a fake perception of market structure.
Look For Confirmation
Ask yourself to fill in the openings that are making you lose your grasp on your method. Asking questions leads to clarification and potentially a positive result. Never fret about looking for more info. The smartest folk are always prepared to request more information.
Are you Dialed In?
Check that you're actually listening and not just pretending. Change your posture, give serious attention to your charts, and demand more of yourself.
Deal with the problem Without Delay
Be direct and say out loud that you're feeling the trade isn't working out. Verbalizing thoughts can solidify them and make you more mindful of fact.
Ask For Help
If you frequently have difficulty with a selected set-up or pattern, get recommendations from a person that has experience with your area of challenge. If you do this regularly, you'll get new revelations you can act on straight away.
Take 5
Occasionally the timing just isn't right. Step away from the PC and only come back when you're better prepared, more rested or not as distracted by other issues. Causing something to work out when the percentages are stacked against you is tricky and frequently pointless. Get back to it later when you're feeling more able and you'll make better calls - with less effort.
Shoot for Good less than perfect
Often we hold such tough standards for ourselves that we will never win. If you demand one hundred percent success at every point you are setting yourself up for continuous disgruntlement. Do your utmost and intend to learn and improve from each experience. Be kinder to oneself and you'll be more relaxed in all your trading activities. And, ironically your performance will improve because you aren't being so harsh on yourself. Shoot at continuing gentle improvement and you may improve at a quicker rate.
Regards,
Adam Halpern
Indicator Warehouse, President
877-646-5249
www.IndicatorWarehouse.com
U.S. Government Required Disclaimer - Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Use of any information in this document is entirely at your own risk, for which Indicator Warehouse will not be liable. Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and materials found or offered in this document for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law. All information found in this document exists for nothing other than entertainment and general informational purposes. We are not registered trading advisors.
Indicator Warehouse enables day traders to choose from a wide variety of NinjaTrader technical analysis tools, at very reasonable prices. Indicator Warehouse represents the best and brightest NinjaTrader programmer/consultants in the industry. Every day, we help day traders put together customized sets of technical analysis tools to enhance their charting capabilities and make their trading experience easier and more profitable.
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