This has as much to do with our psychological build-up as it does with the society we live in.
What to do if you are not trading well. (Thread)
This has as much to do with our psychological build-up as it does with the society we live in.
What to do if you are not trading well.
How to stop the drawdowns when no progress is being made.
How to have a systematic process that protects you from yourself.
We all want the market to reward us for our hard work, the effort, and time we put into it.
We want input to equal output.
Trading is about consistency, persistence, and hard work without the certainty of any reward.
What they buy, How much they buy, When they sell and accept the uncertainty + small losses as the cost of doing business.
A few keys on what to do if you are not trading well.
For instance a 3 Strike Rule: When you have 3 losing trades in a row and you must sit out 1 day before trying another trade.
Developing rules like this can be beneficial especially if you have tendencies to self-sabotage.
Equity Curve’s provide powerful information and feedback about how you are trading in current market conditions.
Stepping back includes reducing size, taking days off and coming back fresh with high mental capital, analyzing your trades, and making a determination on if the market environment has changed.
New traders often increase size and revenge trade trying to make back what they lost quickly.
This is NEVER the optimal solution.
A simple rule at @TraderLion_ is “only add exposure if progress is being made”.
Unfortunately, most people will need to make this mistake themselves before it clicks!
When your past few trades have not gone well you want to become more selective, not less selective.
You should focus on top-tier names + setups and focus on proper execution + risk management.
Look back on your recent trades objectively. Ask yourself if they were proper setups? Did you size your position properly? Did you manage risk?
Make changes accordingly.
If the market is and always will be open, traders and investors alike should seek to take some time off. Time off to recoup. Time off to build up energy again to see the markets with a fresh pair of eyes.
As Jesse Livermore said “There is a time to go long. There is a time to go short. And there is a time to go fishing”
Read 10 Ways to Train your Brain: https://t.co/VhuF8lt8QC
Social media is noisy on a day-to-day basis. Everyone is compounding 5% a day and their stocks are up even on the worst red market days.
What matters is you, your portfolio, and the market.
Focus on yourself, your own mindset, and recent performance.
It's important to remember that if you see leading stocks with failed breakouts and many of your setups not working out, it is often a sign of the market conditions being poor for your style of trading.
You want all the probabilities to be in your favor and a strong market is a large component of that.
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He's wrong to prioritise Labour Party members over the public:
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One of the oddest features of the Labour tax row is how raising allowances, which the media allowed the LDs to describe as progressive (in spite of evidence to contrary) through the coalition years, is now seen by everyone as very right wing
— Tom Clark (@prospect_clark) November 2, 2018
Corbyn opposes the exploitation of foreign sweatshop-workers - Labour MPs complain he's like Nigel
He speaks up in defence of migrants - Labour MPs whinge that he's not listening to the public's very real concerns about immigration:
He's wrong to prioritise Labour Party members over the public:
He's wrong to prioritise the public over Labour Party