Post
Topic
Board Trading Discussion
Re: The #1 reason traders find it hard to follow their risk management plan.
by
Assface16678
on 02/06/2020, 08:35:24 UTC
I'm a trader too and one of the most problems I see on my self is getting greedy but I take to manage this kind of actions because we all know in trading there is a lot of opportunities to make more income with the use of it but it requires a lot of knowledge and skills needed to have this kind of possible high earning sometimes if we have a lot of market income to our trades we become a more greedy and except more than the market price of the coin will go up and the cause we need to wait more time and sometimes those times the market price of the coin is falling down right now and some of us getting panic and don't think what is happening and we need to do and immediately close the positions. Instead of having a good market income the result you lose half of the profit you have before because of getting greedy which is a not good profit. If you think you already gained profit take it out instead of holding this money that causes more trouble to you instead of having a good outcome.

The human element is definitely the hardest thing to move past when trading. I'm a big fan of tools that help you stick to your strategy, whether it's a PineScript indicator on TradingView or your own custom spreadsheet or something else, a tool lets you write the rules once and remind you that you are or aren't following your own rules.

I agree mate. Because of emotion we tend to break our own trading strategies. I think if we trade like a robot (emotionless) using our proven backtested strategies and always stick to that rule. It will be profitable.

It is better if we join into the world of trading we must need to set a aside the emotions because sometimes it may cause too much fear and getting scared and pull out the position we have.