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Sam@ezeetrader.com

Impatience in trading – your answers welcomed…

In today’s video I look at a chart with no price on it plus share a question about pulling the trigger too early. What can be done to stop that?

2 Comments

  1. Spectre-Reply
    April 29, 2020 at 7:19 pm

    Don’t trade with live charts – see if you can get your charting platform to only reveal the bars once they have completed:
    1. This will replicate what you experience/see when you are backtesting, so should help you to make the same decsions that you do when backtesting.
    2. It will stop you from over-fascinating on the noise of the live tick movements. Your brain will find “patterns” in the noise to match whatever you hope/fear to find.
    3. It will probably force you to trade using market orders – you can still succumb to placing them before the set-up confirms, but it might help to take the edge off of the adrenaline/excitement of trading (which distorts rational decision-making).
    4. it will force you to constantly visualise where you need the price to go in order for your set-up to be validated, which will help you to assess whether the price is matching your setup, rather than bending your setup to match the price

    That’s my theory, anyway…

    • Charlie Burton-Reply
      April 29, 2020 at 8:03 pm

      Nice!

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