Why you don’t take the trade – 4 REASONS
4 Reasons you didn’t take the trade
In the frenzied world of financial trading.
It gets to a stage eventually where we will hesitate to take the trade.
Even though you have the plan, strategy and mindset to a T.
Something could trigger you to not take the trade.
So why does this happen?
There are a multitude of reasons, but here are four reasons you might not take the trade.
Reason #1: Market Moved Too Much
Even I miss the mark sometimes.
Either I get distracted by writing something for you.
Either I wake up late past 10 am.
Either I am flying or at the beach.
And then… The market moves too much and I miss the trade.
This is life and this can catch us off guard. There is no excuse in the bigger scheme of things because the market will move with or without you.
Just like time waits for no man. Neither does the market.
We need to be more disciplined, more determined and should be like a sniper when it comes to trading the markets.
Reason #2: You’re Scared to Lose
This one applies to three types of traders.
Either you’re new to the market and don’t want to lose money.
Or you’ve been in the market and you just can’t programme your mind to lose money.
Or you have already lost money and you have an even bigger fear of losing even more money.
Trading, by its very nature, involves risks. But sometimes, the fear of potential losses can overwhelm us, leading to indecision and missed opportunities.
Emotional trading is a surefire way to erratic decision-making and inconsistent results.
So if you’re scared to lose, risk less.
If you’re scared to lose, paper trade until you feel more confident.
If you’re scared to lose, work on risk psychology through journals and reading.
Or just reading an article like this. It may help you.
Reason #3: Too Much Money to Spend
Some markets are expensive!
If you’re new to trading and you try to trade a world index or a futures contract like Brent Crude – brace yourself.
It might spook you away from trading because it’s too much to spend.
But then there are markets that aren’t expensive to trade like Forex, local and some international stocks.
Stick to those and lower your risk to 1.5% or even 1% risk per trade.
Balancing risk and reward is a delicate art in trading.
Reason #4: No Trust Yet in the System
Confidence is not easy to gain with trading strategies.
I never believed in my system for years. Why?
Because I thought the past results truly meant nothing for the future performance of the markets.
Then as trading became more logical and as I saw that financial markets is nothing more than psychology and demand and supply, the confidence in the system went up.
People will be people.
Before plunging into trades, it’s beneficial to familiarise yourself with the strategy and make sure you backtest them and study them like a trading engineer and statistician.
Your confidence will grow and eventually you’ll get to the point where you will.
JUST TAKE THE TRADE.
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Enjoy and remember…
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