5 Reasons Why You Are An Unprofitable Trader….

Описание: 5 Reasons Why You Are An Unprofitable Trader….

1. You are too attached to your trading.

For your trading system be able to work, you need to be detached from the outcome of every trade. Profits come as a byproduct of consistent adherence to your system. You need to show up every day and focus on your PROCESS. Instead of focusing on putting on a winning trade.

2. You don’t have a clear edge.

You need a statistical edge over the market to consistently make money. Your strategy must have positive expected value. This positive EV comes from the correlation between your win rate and R. You must have a deep relationship with your edge and the numbers behind it.

3. You lack discipline.

How can you expect consistency to materialize in your P&L if there is no consistency in how you approach the markets. You must be extremely disciplined with your trading. Treat it like a business. Do not break your rules. A disciplined trader is a profitable trader.

4. You get shiny object syndrome.

Many traders lose a few trades and then quickly jump to the new “shiny” model or concept. You NEED to build conviction in one model. You should be able to go into a period of drawdown and feel absolutely nothing. No second guessing of the model and no worries at all. This conviction is built through chart time and repetition. You will never get that if you are constantly jumping to the newest thing.

5. You don’t manage your risk.

Defense is the best offense. Your risk is the #1 priority and the first thing that should be addressed in every trade. You must allow your winners to win and cut your losses fast. Have a clearly defined risk management process in place before trading. Traders are professional risk managers.

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