Hi again,
maybe some of us will stone me for the following, but it is at least some of my experiences ...
When we start to train fti's MO, we are very keen to be successful from the beginning. It is the most important goal for us to avoid losing days or losing trading sessions.
Good approach, but by far not enough!
As long as we are in training, we should also try to get used to dangerous situations. The situations, that can not be avoided in the long run. When we are in trouble and everything is running against us. When every rescue fails.
We need to get used to our emotions, the panic and the fear. We need to gather the experience how to keep a cool minded head. So please take every so called "desaster" or "catastrophic" trading day as a a gift or a chance to become a better trader.
Let me go one step further:
Try to force such situations only to get a feeling for it!
Maybe you do a coin toss to determine the direction for you scout and try to bail him out. Or if you have a trading buddy, lets create him a serious trading situation (on a demo account) for you and just take over at some time and safe the book. There are lots of possibilities.
Well - think a little about it. You can never be safe in your trading when you are not well trained to the worsed. Even if you have no loosing day in 6 month - it will happen and you have to be prepared for that single event.
Ok - hope I was able to make it clear.
All the best,
Niels!
maybe some of us will stone me for the following, but it is at least some of my experiences ...
When we start to train fti's MO, we are very keen to be successful from the beginning. It is the most important goal for us to avoid losing days or losing trading sessions.
Good approach, but by far not enough!
As long as we are in training, we should also try to get used to dangerous situations. The situations, that can not be avoided in the long run. When we are in trouble and everything is running against us. When every rescue fails.
We need to get used to our emotions, the panic and the fear. We need to gather the experience how to keep a cool minded head. So please take every so called "desaster" or "catastrophic" trading day as a a gift or a chance to become a better trader.
Let me go one step further:
Try to force such situations only to get a feeling for it!
Maybe you do a coin toss to determine the direction for you scout and try to bail him out. Or if you have a trading buddy, lets create him a serious trading situation (on a demo account) for you and just take over at some time and safe the book. There are lots of possibilities.
Well - think a little about it. You can never be safe in your trading when you are not well trained to the worsed. Even if you have no loosing day in 6 month - it will happen and you have to be prepared for that single event.
Ok - hope I was able to make it clear.
All the best,
Niels!