If you have not backtested different ways of turning your trading system on and off in different market conditions then you could be leaving a lot of money on the table OR suffering big drawdowns and losses unnecessarily.
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The biggest trading mistake you can make with winning trades
Winning trades can feel like riding a zip-line… particularly if you trade stocks using trend following (trend trading system).
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There can be a feeling of nervous anticipation just before taking a trade, and when the trade is moving in your favor you never want it to end…the hope that it will go to the moon sometimes gets the better of us. In the cryptocurrency space they say HODL or hold on for dear life. But this is a HUGE trading mistake.
Stock Market Character – Are you making this HUGE mistake?
Every market has a different personality and this is critical to being profitable in a new market you enter into. Trading System design starts with understanding the way each market behaves.
How to get past your fear in trading
Fear causes many retail (and professional) traders to second guess themselves, exit trades too early, skip trades they should take.
This happens because none of us want to lose money trading and when the market gets volatile or starts falling it is all too easy for this fear to impact your trading psychology and hurt your trading decisions.
Letting any emotions get in the way of your trading is a mistake and will cause you to lose money trading.
The best solution to eliminate this trading mistake is to have a correctly backtest and profitable trading system that you have 100% confidence in.
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The Single Best Cure for Stock Trading Overwhelm
Momentum is critical to your stock trading success. Not market momentum, personal momentum! The biggest thing I find that slows momentum in traders is overwhelm about all of the ways they could trade the stock market.
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There are countless stock trading indicators, trading strategies, instruments, trading systems to choose from. Unless you get completely clear on your stock trading objectives this can be overwhelming… and trading overwhelm causes inaction which leads to huge opportunity cost and loss of future wealth.
Temptation by Huge Claims for a Trading System or Indicator
Bold marketing claims for trading advisory services, indicators, traders wanting to manager your money or trading systems can be tempting… but appearances can certainly be deceiving, as I found out in Milan.
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The Solution is to take control of your stock trading, backtest everything for yourself and become an independent and systematic stock trader.
Top Trading Mistakes that People Make
Recent Stock Market history is never representative of what could actually happen in the markets. The Risk you face as a new trader is coming to the markets thinking that what we are experiencing. Now (whatever that is) is normal.
How to Make Money When the Markets Gyrate Wildly | Stock Trading Tips
You can make money in volatile market conditions caused by world leaders, geopolitical events and uncertain economic conditions. But you cant keep trading the same way as you do in a bull market… nor can you let fear get the better of you and dump everything and go short.