FEAR https://youtu.be/WAkv2G1Ghzw Many times we can sabotage our own trading because of our fears. In many cases, fear is good and helpful in our lives. But in trading, it can really be harmful. Fear helps us avoid things in the environment that we perceive as threatening. It’s important to note that what we perceive as…
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GREED https://youtu.be/8jwwhSVGd3I It’s so easy to be greedy in this business. It’s easy to think whatever you get, it’s not enough. If you have 200 points profit in a trade, you want 300 points. If you have 300, you want 400. The lack of being satisfied is a big reason why many people have trouble…
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DOUBLING UP: ADDING TO A LOSING POSITION https://youtu.be/l-jtJ3koFX0 As we’ve talked about so far, the most important thing you can do is keep your risk to an absolute minimum. I can’t say it enough. Minimizing your risk is 100 times more important than finding winning trades. (And finding winning trades is important too, so I…
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WISHING, HOPING, AND PRAYING https://youtu.be/FJzhHnfGTxU Remember earlier we talked about how important it is to be an active winner and loser. In other words, you must act to take profits and act to get out of losing trades. You cannot be passive with the market, and that’s exactly what wishing, hoping, and praying does. It…
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REVENGE TRADING https://youtu.be/zFnQvylmkP0 Revenge trading comes from one thing and one thing only, blaming the market for your loss. But let’s think about this realistically. Who is to blame when you have a loss? Actually I think blame is the wrong word. The question should be who is responsible when you have a loss? …
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THE WORST MISTAKE YOU CAN MAKE https://youtu.be/GSH5Ebqlx0E I’ve lost count on how many traders I’ve seen this happen to. To be honest, it’s probably happened to almost every trader out there at some time or another. Unfortunately, for many it could be the beginning of the end. As we all know, to be successful at…
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via IFTTT PAPER TRADING AFTER A LOSS My good friend gave me this little tip a short time ago, and I think every trader can learn from it. He is a successful trader. One of the main reasons he is successful (when others are not) is because he uses some excellent techniques to keep him…
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BEING AN ACTIVE WINNER AND LOSER via IFTTT Some people believe trading is like gambling. It’s not. In a gambling game, you have to participate to lose and do absolutely nothing to stop losing. If, after one bet, you don’t put another bet on the table, you will not lose. There is also no way…
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BEING OBJECTIVE via IFTTT Do you believe anything can happen in the market at any time? This is what being objective is all about. You need to constantly be thinking that the market can do whatever it wants whenever it wants at any time. Many people get into trouble by thinking the market can’t or…
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HOW TO DEAL WITH THE MARKET WHEN IT NEVER STOPS MOVING via IFTTT The market is always moving. It never stops. It may slow down and pause for a little while, but it never stops moving. Even when the markets are closed, the prices are still moving, as they can certainly open up at a…
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