Once a novice trader becomes an experienced trader with knowledge, why is he still struggling in the trading market? With effective trading strategies, sound trade setups, and a solid understanding of technical indicators, he will trade with confidence. But why does he not have confidence?
I will explain two important factors here. The first one is the expectation of a holy grail strategy or trade setup. This type of expectation comes when a person is not ready to understand that 100% success trades are not possible. People who have this type of expectation will follow one strategy for some time, then switch to another one when they get a few losing trades. They spend their money, time, and energy in finding new strategies & testing them for some time before finding another new strategy.
The next factor is not having sufficient understanding of the strategy or trade setup. It makes a trader lose interest in his strategy once he encounters a few losing trades.
The solution to trade confidently lies in back testing. Usually, professional traders back-test their strategy at least for the past 4 years. This makes them understand how their strategy works in different market situations and to know the trading edge. Have you back-tested your strategy? If not, now is the time for back testing... I am concluding this series, The Profitable Consistent Trader, here. If you want to read such an article, comment below, and I will write about different topics every week.
I will explain two important factors here. The first one is the expectation of a holy grail strategy or trade setup. This type of expectation comes when a person is not ready to understand that 100% success trades are not possible. People who have this type of expectation will follow one strategy for some time, then switch to another one when they get a few losing trades. They spend their money, time, and energy in finding new strategies & testing them for some time before finding another new strategy.
The next factor is not having sufficient understanding of the strategy or trade setup. It makes a trader lose interest in his strategy once he encounters a few losing trades.
The solution to trade confidently lies in back testing. Usually, professional traders back-test their strategy at least for the past 4 years. This makes them understand how their strategy works in different market situations and to know the trading edge. Have you back-tested your strategy? If not, now is the time for back testing... I am concluding this series, The Profitable Consistent Trader, here. If you want to read such an article, comment below, and I will write about different topics every week.
Nota
Guys, please check the "related publications" in this idea to read the previous parts.
Role I play here : Moderator. Follow me in telegram to trade better. t.me/Analysis4Newbie Contact information : tradingplan4u@gmail.com
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Role I play here : Moderator. Follow me in telegram to trade better. t.me/Analysis4Newbie Contact information : tradingplan4u@gmail.com
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.