Market is dynamic. You cannot predict market will behave in a certain way. Market movement is based on probability and your trading reflects it. The price movement gives the information about the trend. From that we form perception/view about market. Our perception is the basis for the trading. Changing the perception becomes a problem for some people. For example “Person A” has bullish view about the market before it opens. Market opened gap up and shows the sign of reversal. If “Person A” do not change his perception by understanding the reversal signs, he will lose money. Similarly changing the view often is also not good. If you change your view about the trend for each and every candle formation, then you won’t get clarity about market trend. Now lets come to the important point. How to overcome it? Have high probability trade set ups and trading strategies. Trade only when your trade set ups form. You will have more clarity and confidence when you follow the tested trade set ups and trading strategies. Do you want to reduce the intermediate phase duration? Avoid taking random trades. Always have a plan about handling market movements. Once the market opens, your emotions will be highlighted and at that time processing the information, planning the trade and deciding what to do becomes tough. How you perceive the market with your trade setups and trading strategy decides your success. (To be continued next week...)
Hello maam,
I have been doing trading since 1 year approx. Mostly I predict the movements right but i end uo taking random trades which eventually eat up my all profits and even sometimes i give upto 70% into brokerage and charges. When i hold the trades it hit the SL and when i think i will exit early it goes beyond my targets.
And sometimes i trade repeatedly without any cause or setup.I think i am not good in taking losses, as soon as i see my pnl in red i just lose my calm and start to take random trades. How can i overcome this? ...i have tried many possible ways but i can't manage my emotions during trading hours.I really want to be a consistent trader but i think acting like this long enough will erode my all capital and as a student i have limited capital to learn with.Any genuine suggestions will be really helpful.
Thanks
rasheedp9539
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@NIT-B_trader try for positional /swing. Intraday trades will eat ut capital only... Emotion control is what not reflected in intraday trades. Swing or positional picks gives us peace. If u need to do intraday at any cost and can't control ur emotions, go for algo trading
raj2720
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Excellent, well explained.,. very much helpful and inormative.... Thank you.,. All the best
I have been doing trading since 1 year approx. Mostly I predict the movements right but i end uo taking random trades which eventually eat up my all profits and even sometimes i give upto 70% into brokerage and charges. When i hold the trades it hit the SL and when i think i will exit early it goes beyond my targets.
And sometimes i trade repeatedly without any cause or setup.I think i am not good in taking losses, as soon as i see my pnl in red i just lose my calm and start to take random trades. How can i overcome this? ...i have tried many possible ways but i can't manage my emotions during trading hours.I really want to be a consistent trader but i think acting like this long enough will erode my all capital and as a student i have limited capital to learn with.Any genuine suggestions will be really helpful.
Thanks