overtrading
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STOP OVERTRADING š
YOU DONāT HAVE TO TRADE EVERY DAY ! Overtrading doesnāt make you a better trader; it puts your capital at risk. Two weeks ago, I met a rookie trader who was riding high on the marketās momentum. He had over a dozen positions open at once ( insane, 3 at risk to me is dangerous), yet he was feeling confident because everything seemed to be working in his favor. I warned him about the coming volatility and advised him to de-risk his positions. He didnāt listen. A few days later, after the market corrected aggressively, he went darkāpost-loss depression hit hard.
You canāt control the market, but you can control your risk. Overexposure is a silent account killer. In my copy trading account, I never risk more than two positions at once. Patience, discipline, and risk management are the foundation.
I highly recommend LR Thomasās book on overtrading. Here are some principles Iāve learned from it:
1. Create a Trading Plan ā Define entries, exits, and risk limits. Stick to it.
2. Set Goals ā Realistic goals keep you focused and disciplined.
3. Use a Journal ā Track trades, emotions, and patterns to learn and improve.
4. Manage Risk ā Proper position sizing and stop-loss orders are key.
5. Control Emotions ā Practice mindfulness to avoid fear and greed.
6. Limit Trades ā Fewer, well-thought-out trades often lead to better results.
7. Avoid Noise ā Tune out distractions and stay focused on your plan.
8. Take Breaks ā Rest keeps your mind sharp and avoids burnout.
9. De-Risk: Limit open positions to one or two unless the stop-loss is at break-even after taking the first profit. Only open new positions once de-risked.
By applying these strategies, Iāve cultivated consistency, and my trades reflect it. Follow my copy trading account to see the difference discipline makes. Click here to copy and šš°. Cheers, and happy trading!
#success #tradesmart #overtrading #tradingpsychology #winnermindset
YOU DONāT HAVE TO TRADE EVERY DAY ! Overtrading doesnāt make you a better trader; it puts your capital at risk. Two weeks ago, I met a rookie trader who was riding high on the marketās momentum. He had over a dozen positions open at once ( insane, 3 at risk to me is dangerous), yet he was feeling confident because everything seemed to be working in his favor. I warned him about the coming volatility and advised him to de-risk his positions. He didnāt listen. A few days later, after the market corrected aggressively, he went darkāpost-loss depression hit hard.
You canāt control the market, but you can control your risk. Overexposure is a silent account killer. In my copy trading account, I never risk more than two positions at once. Patience, discipline, and risk management are the foundation.
I highly recommend LR Thomasās book on overtrading. Here are some principles Iāve learned from it:
1. Create a Trading Plan ā Define entries, exits, and risk limits. Stick to it.
2. Set Goals ā Realistic goals keep you focused and disciplined.
3. Use a Journal ā Track trades, emotions, and patterns to learn and improve.
4. Manage Risk ā Proper position sizing and stop-loss orders are key.
5. Control Emotions ā Practice mindfulness to avoid fear and greed.
6. Limit Trades ā Fewer, well-thought-out trades often lead to better results.
7. Avoid Noise ā Tune out distractions and stay focused on your plan.
8. Take Breaks ā Rest keeps your mind sharp and avoids burnout.
9. De-Risk: Limit open positions to one or two unless the stop-loss is at break-even after taking the first profit. Only open new positions once de-risked.
By applying these strategies, Iāve cultivated consistency, and my trades reflect it. Follow my copy trading account to see the difference discipline makes. Click here to copy and šš°. Cheers, and happy trading!
#success #tradesmart #overtrading #tradingpsychology #winnermindset
EL-SHADDAI:
Learn from my own strategies. Cheers!