That's right we are so busy working on our other world class platforms that we thought we would do a very simple, quick but important blog post!
Now remember you first school dance and when you asked the most popular boy or girl to dance and they said no? ( did not happen to us either don't worry) and you ran off crying? Did it out you off dancing? NO did it put you off parties ? NO did it put you off the opposite sex? NO ( well some of you it might and that's perfectly acceptable!
The point is bad things happen in life and so true is in trading. We all lose trades at one point! It's part of it. So is drawdown. So we thought we would give a quick 10 tips. Feel free to save this and revert back to it whenever the tears are building up because the shitty signal you used has blown your account even though the "guru" said it was his best trade ever........ Funny that but if you are still using signals go away.
Emotions are natural, unless if you are Donald Trump as lets be honest we don't think he even has as soul! Dont fight them just work with them and get through it! Trading isnt easy end of.
Use money you can afford to lose.
This is so simple but yet we see 1000s not follow this. ONLY TRADE WITH MONEY YOU CAN AFFORD TO LOSE!!!! Its not hard. If you only have £1000 in your savings and you invest that and lose it you have fuck all! Regardless of the gurus saying its fine invest it, should only invest what you are comfortable to lose. As more people lose than win in trading the odds are against you from the start.
A simple rule to remember! The funds you want to invest, split in two. Now you know you still have some money if shit was to hit the fan, which lets be honest will happen if you are using signals
STOP USING SIGNALS
Just. STOP. Please.
Stop watching drawdown
Simple if you can't handle drawdown don't trade. It's part of it. And isn't you losing you only lose when you stop the trades or sell the investment.
If you trust your software or analysis then you shouldn't even be watching the trades, first of would be boring as fuck and second of all if you have demoed and confident and using funds you can afford to lose then it shouldn't matter.
We know we sound like those yoga gurus, but its true when you are charting up or placing a trade take a breath, double check, triple check check everything multiple times so you know you are 100% happy. There is no rush in trading its about the long term!
Heres a little timeline to help!
Chart. Step Away. Breath. Make A Drink. Re Chart. Check levels. Breath. Enter Trade.
Simple we know.
Your own journey
You know when you see some jumped up bellend with a six pack and then look at your chubby belly and think oh why do i not have that? Well chances are its genetics or the fact that you eat to much and don't move. Regardless there is no ay you can get a six pack in a day. Same as trading when you see someone with a new rolex ( probably fake) or a lambo ( probably rented) you automatically think oh wish that was me! Well stop!!!!!
Trading is about your own journey. It's About achieving what you want to achieve. BIG TIP DELETE SOCIAL MEDIA OR STOP FOLLOWING FAKE TRADERS.
Work on yourself away from others. Hate to break it to you, but there will always we, better looking people, richier people, fitter people, funnier people, smarter people than you! So stop worrying about others and start with the person in the mirror. Your mirror that is.
DEMO DEMO DEMO DEMO DEMO DEMO DEMO DEMO DEMO DEMO
Just fucking demo until completely confident and happy. If that's 1 week, 1 month 1 year or even 5 years who cares its your journey!
Take the loss move on.
Now hopefully you won't see to many losses but you will see some! Its part of it! You can be 100% happy with your trade, the perfect entry and be buzzing. And then all of sudden something happens and it goes down quicker that Donald Trump! And you end up losing. So what! You were happy with the trade. Remember we can't control the outcome!
Take a break have a .........
Seriously if you have been studying for a few weeks or months. Take a break! You won't forget everything and if anything the break will help you enhance remembering. You need to give your a brain a chance to catch up and digest the information. Plus studying trading is boring!
Majority of the books you can read are relative as whole for trading! This will help you realise mistakes etc you have made happens to everyone! You also can learn more tips etc as well to help get through it.
The best way to help is get a good group of friends and help each other with ideas and strategies. This way you can talk through the bad time as well as celebrate the good times. This really helps you build yourself and your friends and sharing is caring of course!
So to recap! Take a break! Stop using signals! Only use money you can afford to lose.
Like always no trading advice even though what we have said is all great stuff! Make sure to subscribe for updates! Always take your time with trading!