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How do you learn to trust yourself in trading?

  • #61
  • Jul 16, 2019 11:49pm Jul 16, 2019 11:49pm
Trust in thy self comes from knowing what you are doing and one is prepared for all eventualities, like:
- Stop loss in place
- Target in place
- Risk management in knowing how much you're gonna lose if it hits SL
- Knowing how you will enter next trade

All these comes with experiencing different market conditions.
  • #62
  • Jul 17, 2019 12:13am Jul 17, 2019 12:13am
How do you learn to trust yourself in trading ?

Simply put,
KEEP FAILING, BUT DON'T GIVE UP !

Its like trading,
Price won't permanently goes up or down... But it will permanently move forward !

So,
Keep trading, failure and success comes and goes... But you must hold on tight to dedication, professionalism, and FOCUS !

... and also, don't be a donkey (repeating mistakes)

Best of luck ~
  • #63
  • Jul 17, 2019 3:37am Jul 17, 2019 3:37am
Quoting Mrcl
How do you learn to trust yourself in trading ? Simply put, KEEP FAILING, BUT DON'T GIVE UP ! Its like trading, Price won't permanently goes up or down... But it will permanently move forward ! So, Keep trading, failure and success comes and goes... But you must hold on tight to dedication, professionalism, and FOCUS ! ... and also, don't be a donkey (repeating mistakes) Best of luck ~

I love this Mrcl

Success is a series of mistakes, errors for so far you keep going, stumbling.....

The only thing, the donkey never stumbles upon the same stone ever. HE said that more than 2000 years ago.

https://www.moralstories.org/never-to-give-up/

Human beings stumble since more than 2000 years on the same stone of pure ignorance, pride to acknowledge this very ignorance, as blind man looking for an elephant in the dark
A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
  • #64
  • Jul 17, 2019 1:38pm Jul 17, 2019 1:38pm
Quoting Marcieny
A head full of fears has no room for dreams. Eliminate fear is necessary
  • #65
  • Jul 17, 2019 1:49pm Jul 17, 2019 1:49pm
Quoting Harry6
{quote} I love this Mrcl Success is a series of mistakes, errors for so far you keep going, stumbling..... The only thing, the donkey never stumbles upon the same stone ever. HE said that more than 2000 years ago. https://www.moralstories.org/never-to-give-up/ Human beings stumble since more than 2000 years on the same stone of pure ignorance, pride to acknowledge this very ignorance, as blind man looking for an elephant in the dark
the market is not for those who have ego.
  • #66
  • Jul 17, 2019 8:25pm Jul 17, 2019 8:25pm
Quoting Marcieny
{quote} the market is not for those who have ego.
Exactly. If one has ego, he loses objectivity and the ego is sure to be crushed by the god of the markets.
  • #67
  • Jul 17, 2019 9:52pm Jul 17, 2019 9:52pm
Quoting Marcieny
{quote} the market is not for those who have ego.
We humans ALL have ego. In that we are all equal . I use trading to transform my consciousness. See also my private profile?

The opportunity is to use our ego intelligently, and with compassionate understanding use the suffering parts as a door/gate way to our immense unlimited and eternal beauty.

See also

Inserted Video


You like it?
A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
  • #68
  • Jul 18, 2019 10:20pm Jul 18, 2019 10:20pm
Quoting Harry6
{quote} We humans ALL have ego. In that we are all equal . I use trading to transform my consciousness. See also my private profile? The opportunity is to use our ego intelligently, and with compassionate understanding use the suffering parts as a door/gate way to our immense unlimited and eternal beauty. See also https://www.youtube.com/watch?v=2a10...&index=2&t=24s You like it?
I am not fluent in English ... But it seems to be a great video.
  • #69
  • Jul 19, 2019 11:43am Jul 19, 2019 11:43am
Quoting Marcieny
{quote} I am not fluent in English ... But it seems to be a great video.

I am struggling on this path of inner freedom with Faisal, since more than 15 years. And on the road back home since more than 40 years now

If you like to explore more of this, what about this video


Inserted Video


Enjoy

PS And Marciency, feel free to send me a private shout. Look up my profile and google a translation in Spanish. OK?
A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
  • #70
  • Jul 19, 2019 11:48am Jul 19, 2019 11:48am
Quoting Harry6
{quote} I am struggling on this path of inner freedom with Faisal, since more than 15 years. And on the road back home since more than 40 years now If you like to explore more of this, what about this video https://www.youtube.com/watch?v=8eU4uVTkBQI&t=27s Enjoy PS And Marciency, feel free to send me a private shout. Look up my profile and google a translation in Spanish. OK?
OK..Many Thanks harry.
  • #71
  • Jul 19, 2019 3:07pm Jul 19, 2019 3:07pm
Quoting Marcieny
{quote} OK..Many Thanks harry.


Muy buen

A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
  • #72
  • Edited Aug 26, 2019 2:10pm Aug 25, 2019 2:44pm | Edited Aug 26, 2019 2:10pm
- I take a screenshot of every trade, including "close maybes" and some setups that should not be taken. I review these before each week begins. While I'm reviewing, I'm automatically becoming familiar with what a good trade looks like and what a trade doesn't look like. Then, while I'm trading, I evaluate potential setups and feel like I am still backtesting with my screenshots.
The screenshots show how the trade turned out, plus a few more candles in case I notice new patterns in the future.(*) On most trades, I record my reasoning at the time using the "Text" tool.

- I say and do only appropriate things to myself. All trades that have a good setup are good trades, whether they win, lose, or win/lose a little. So if I say something out loud to myself, such as "Yay!" or "Crap!", it is accurate according to that. If it was a bad trade that won, I don't give myself positive feedback. If it was a good trade that was managed perfectly but lost, I feel free to give myself positive feedback -- and never negative feedback.
When I do say something incorrect: I stop everything I'm doing and say out loud, "I take that back." Then I pause for a bit and if needed say it again, until I feel like it did not happen.

- The broker should be ECN or at least STP. Doing business with, and trusting money with, someone who has a vital business interest to take one's money (e.g., Market Makers), is suicidal for one's account.

- All of my system's rules are written down, as accurately yet succinctly as possible. Sometimes after long holiday breaks (and esp. after summer break), I actually do forget a rule or the overall feel of the system. But these rules represent optimal trading performance for this system, so I want to be always trading according to these.



____________________________________________
Footnotes:
(*) For screenshot filenames, I personally use the following quick format: "eu5 1.png" for the first EURUSD M5, "eu5 2.png" for the second, etc. The ".png" does not need to be typed.
  • #73
  • Aug 25, 2019 3:00pm Aug 25, 2019 3:00pm
Something that has really helped me is to use a mantra before trading. Here's an example.

It helps get me in the right frame of mind to trust myself and know that I am able to trade according to my plan.

It took a while for it to become a habit but I do it pretty much every morning now.
  • #74
  • Aug 25, 2019 7:35pm Aug 25, 2019 7:35pm
backtest your strategy manually at least 500 times (2000 times is better) in one pair (or 20 years of chart history), write down every trade, and if the result is good you can trade and relax and if the result is not good find out why and solve it until the result is positive

but that doesnt mean that fear will go away completely, we're human are emotional being we will always be tested but now i have reliable and logical reason why i should put my trust on numbers because numbers dont lie
  • #75
  • Aug 26, 2019 12:19pm Aug 26, 2019 12:19pm
as you progress in the learning process. you realize more and more that there are very few profitable strategies.
thus, self-education is vital.
  • #76
  • Aug 26, 2019 4:35pm Aug 26, 2019 4:35pm
I had been trading 3 years. I was ready to give up & almost quit several times. Then I had my incredible moment where i realized my mistakes. I am now profitable & very positive of my abilities. The main things that helped: A Squawk, a Journal, a trading plan, better risk management, more studying & dissecting my winning & losing trades. Also, I highly recommend a psychology book: Mark Douglas-Trading in the Zone. I hope this helps. Wish everyone much success in their trading.
  • #77
  • Aug 26, 2019 5:06pm Aug 26, 2019 5:06pm
Quoting steep89
hi, I've had my fair share of getting my a** whooped around over the years. The emotional pain attached to trading is incredibly real to me. Depressive phases, feeling inferior and not worthy, apparently being the only trader in the world that was not making money, you name it. Aside from having a, excuse the arrogance, good understanding of how particular markets move/operate at particular times of the day, i have found that one of the biggest hurdles to overcome for me was is trusting myself. I do not mean that from a technical perspective, or...

I naturally don't trust myself and have studied the simplest to the most complex systems. Yet I see the Richard Dennis and Paul TUdor Jones and just dive in right now even those its the practice system. Its simply a matter of being prepared and using your luck to your advatntag.
  • #78
  • Aug 27, 2019 2:27am Aug 27, 2019 2:27am
Quoting steep89
hi, I've had my fair share of getting my a** whooped around over the years. The emotional pain attached to trading is incredibly real to me. Depressive phases, feeling inferior and not worthy, apparently being the only trader in the world that was not making money, you name it. Aside from having a, excuse the arrogance, good understanding of how particular markets move/operate at particular times of the day, i have found that one of the biggest hurdles to overcome for me was is trusting myself. I do not mean that from a technical perspective, or...
Hey that’s okay. I think it happens with almost every trade .One thing i could suggest you is to avoid emotionless trading at all costs .Because it does not let you think logically and you are sure to lose out some good trades .Feelings like low self confidence, trust and fear will never let you do good in trading. Also, working out a trading plan can help a lot. At least it has worked for me always .It tells me when to enter a trade and when to exit it and helps avoid emotion.
  • #79
  • Sep 4, 2019 3:02am Sep 4, 2019 3:02am
Quoting swagtrading
Trust in thy self comes from knowing what you are doing and one is prepared for all eventualities, like: - Stop loss in place - Target in place - Risk management in knowing how much you're gonna lose if it hits SL - Knowing how you will enter next trade All these comes with experiencing different market conditions.
Every point that you focused on is right. Just to add, to handle all this, emotional balance is must. Keeping yourself emotionally strong and confident will build that self trust.
  • #80
  • Edited 10:28am Sep 7, 2019 9:57am | Edited 10:28am
Well the eternal question of trust:

Do you trust yourself in life?

Euh....do you TRUST life? The unfolding basic goodness in existence?????

If in doubt or simply NOT, then try to build durable ego trust.... I NEVER succeeded in more than 40 years efforting. I only had illlusionary, false trust.

And when that false trust collapsed, within myself a made a free fall through a gaping bottomless hole, crashing in an infinite ocean of never ending inconsolable, unbearable sadness, despair, rage, hopelessness and terror.

And that very space opens to eternal, living, Basic Trust: See also this youtube link:
Inserted Video
A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
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