Three Reasons Why Successful Traders Fail In The Beginning

I can relate a lot.

1. I close my losing positions before it hits my SL to minimize the loss. But after a while, it goes to my direction and actually hits my TP after I already closed the trade with a loss.

2. I close my winning trades before it hits my TP because of fear that the price might go back to my entry price.

3. I just watch the strong entry signals pass by due to doubt after experiencing the above.

I know this is part of the learning process. Jeez

Below is the proof.

IMO, to share is one of the good way that can be improving oneself.

Yes, I agree with you.. Every trader must have a good trading plan in order to be successful. The main goal of a trading plan is to provide a frame work within which your decision making is predetermined. This will make you relaxed and unemotional, especially when things don't go quite as planned.

Agree till death

When I realised that professional traders don’t trade for income, it had a high impact on my trading journey.
I was so thrilled about this discovery that I shared it with everyone I knew in trading communities. I did not meet much understanding.
But I held on to this idea and accepted the idea of creating a salary outside trading.
Now I can trade to get rich slowly instead of trading for income.
And I have learned what I need to create an online income. I use my skills from the online business in trading, and I use my skills from trading in online business.
Happy trading!

Tell me something.


My most recent revision of my system involves me substantially increasing the number of trades per month but reducing my losses to only when new moves market crazy enough to cause my losses to be hit. My previous system that was my system for two years now relied on R:R ratio and did very well.

I have been trying out my most recent system for a month now and I've not suffered a single loss but my profit targets not being hit as often as they used to. I'm exiting many trades at 4-6 pips profit and after paying spread I'm left with even less and because my new exit system(which was the revision to my system) is so strict, it takes away the stress of my SL being hit but it also puts me in a position where I'm getting 4-6 pips and waiting for that big trend move to hit my TP target.

But then there exists not holy grail. This means when the price is moving crazy enough, my SL will be hit without question if the price moves against me. I cannot predict this one key thing. This means I have some cognitive dissonance thingy going on in my head because in the end if my SL is, say, 20 pips, and I'm getting 4-6 pip trades a lot because of my new exit system, this means my R:R is actually 20:4-6. This means that the next time I compound, and the price just happens to go crazy, I'll lose a big portion of my gains.


So, can you guys tell me if I should continue with this approach for the next 11 months so I can compare my performance with a year of performance of only exiting trades using fixed 20:60 ratio?

I feel deep down that my latest revision is just me wanting to get rid of the emotion called stress but in reality it will hurt me in the long run.