The Cost Of Missing Your Best Trades
What if your best trades were the ones you frequently do not enter?
There are not many positives in missing trades because it's money you're not adding to your trading account. You're losing more than money when you don't enter your best trades. Let's dig in.
Lost of confidence 😫
If you've ever said to yourself, "Why didn't I take the trade?" It's because you saw the setup. Your rules were met, but something inside of you couldn't push the button.
It could have been your own thoughts. You could have feared losing the trade in result losing money. Either way, you lacked the strength to push the button.
It's ironic how one button determines the fate of your abilities huh?
Hear this, you can begin doubting your ability as a trader when you don't take your setups. Remember that your eyes see first and you must take action regardless of your personal thoughts or feelings. You used logic to see the trade so use it to enter the trade.
Then let the trade tell you if you were wrong or right.
Risk of losing trades outweighing the trades you don't enter.
Have you ever looked at your trade journal just to realize you could be profitable if you'd enter all of your trades?
Most traders I consult with hesitate the moment they realize they have a good entry. Did you catch that? They don't question the analysis. They question themselves the moment it's time to hit the buy or sell button.
Like most traders, you're good until you have to show up to take action. This is common, but can also be the reason why you may not be seeing more profits than losses.
Revenge Anyone?
Revenge is a strong feeling. Taking action to get revenge results from the feeling of losing something so precious and your money is precious to you so it's only fitting you have a right to want it back.
However, money loss doesn't always come from trades you've enter. Consider this:
You see a trade. This risk to reward is 1:2. So you know you have a chance to double the amount you risk. You're excited. You see the outcome. So, you put a monetary value on the trade and realize if you win the trade you can win $1000. If you lose the trade you can only lose $500.
Something happens. You never enter. It could be for varying reasons. You weren't at your chart because you got busy. You got called in to go to work. Price reach where you wanted to enter, but you didn't like what you saw.
Either way you're not down $500. You're at a loss of $1000.
That leads me into my last point. The cost of missing your best trades setups is the risk of making the money you desire.
That $1000 could have gone a long way for you. It could have covered a car note. Paid your utilities for the month. Added more leverage to your trading account.
Either way it meant something to you, but you can't feel it because you feel like you missed out on it.
I get it. I've been there. You're not alone.
You are learning something though. You're learning you don't want to keep missing these setups so you're going to do something about it.
I have 3 suggestions for you. Let's see if you've thought of these:
* Adjust your timeframes so they fit your schedule
*Set pending orders
*Trade less pairs so you can focus on your best setups
Hear me well my dear friend, you may not always enter your best setups, but you can miss less.
Keep your trading easy for you. Don't overthink the entry. Don't tell yourself you're wrong. Trust me, the market will tell let you know if you're doing things correctly or not.
I pray you enjoyed this reading. If you have please like the post and share it.
Please share your thoughts below.
Many blessings to you,
Shaquan ❤️
There are not many positives in missing trades because it's money you're not adding to your trading account. You're losing more than money when you don't enter your best trades. Let's dig in.
Lost of confidence 😫
If you've ever said to yourself, "Why didn't I take the trade?" It's because you saw the setup. Your rules were met, but something inside of you couldn't push the button.
It could have been your own thoughts. You could have feared losing the trade in result losing money. Either way, you lacked the strength to push the button.
It's ironic how one button determines the fate of your abilities huh?
Hear this, you can begin doubting your ability as a trader when you don't take your setups. Remember that your eyes see first and you must take action regardless of your personal thoughts or feelings. You used logic to see the trade so use it to enter the trade.
Then let the trade tell you if you were wrong or right.
Risk of losing trades outweighing the trades you don't enter.
Have you ever looked at your trade journal just to realize you could be profitable if you'd enter all of your trades?
Most traders I consult with hesitate the moment they realize they have a good entry. Did you catch that? They don't question the analysis. They question themselves the moment it's time to hit the buy or sell button.
Like most traders, you're good until you have to show up to take action. This is common, but can also be the reason why you may not be seeing more profits than losses.
Revenge Anyone?
Revenge is a strong feeling. Taking action to get revenge results from the feeling of losing something so precious and your money is precious to you so it's only fitting you have a right to want it back.
However, money loss doesn't always come from trades you've enter. Consider this:
You see a trade. This risk to reward is 1:2. So you know you have a chance to double the amount you risk. You're excited. You see the outcome. So, you put a monetary value on the trade and realize if you win the trade you can win $1000. If you lose the trade you can only lose $500.
Something happens. You never enter. It could be for varying reasons. You weren't at your chart because you got busy. You got called in to go to work. Price reach where you wanted to enter, but you didn't like what you saw.
Either way you're not down $500. You're at a loss of $1000.
That leads me into my last point. The cost of missing your best trades setups is the risk of making the money you desire.
That $1000 could have gone a long way for you. It could have covered a car note. Paid your utilities for the month. Added more leverage to your trading account.
Either way it meant something to you, but you can't feel it because you feel like you missed out on it.
I get it. I've been there. You're not alone.
You are learning something though. You're learning you don't want to keep missing these setups so you're going to do something about it.
I have 3 suggestions for you. Let's see if you've thought of these:
* Adjust your timeframes so they fit your schedule
*Set pending orders
*Trade less pairs so you can focus on your best setups
Hear me well my dear friend, you may not always enter your best setups, but you can miss less.
Keep your trading easy for you. Don't overthink the entry. Don't tell yourself you're wrong. Trust me, the market will tell let you know if you're doing things correctly or not.
I pray you enjoyed this reading. If you have please like the post and share it.
Please share your thoughts below.
Many blessings to you,
Shaquan ❤️
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