The Art of Holding....
Most of us are governed by survival mechanisms. The main one of course is your fight or flight mechanism more technically described as your reticular activating system. It was designed to ensure your survival and all species have it. It warns of impending danger or the probability of it which is why you don't walk out in front of a car.
It is also one of your worst enemies in trading. You know you take a position. You are sure that things are going to move for you and the price immediately begins to draw you down. This is almost a sure thing if you are going to swing trade. It is almost a guarantee that they are going to try to shake you out.
The mistake you make and trust me I have made plenty of them this way is to let your emotions into the equation. You have to remember that you are not the only market participant when you take a position. There are many of them. When you become a target so to speak is when you abandon risk management.
The whole point of trading is to make boring trades. You should never be getting excited about any trade. It will either move slowly in your favor or you will be stopped out. Now you can see by the charts below that I put my money where my mouth is. Always. I don't just make a random call and then abandon ship when I get into profits. I try my best to hold them. Sometimes for weeks or months at a time.
If you have a problem with this here is the solution. Trade so small that you don't care if you lose or not. Yes I realize you won't make much money either but the point is you won't lose much. The markets only trend about 20% of the time. The rest of the time you are trading market noise whether you realize it or not. So if you are a trader well that means that 80% of the time unless you catch a trend you run a risk of being stopped out. Herein lies the problem. You can't handle more than 3 losses in a row before you curse the system you are using and jump ship.
I always tell my children, "get the f--k out of your way". Now rather crude I know but it sends them a sharp message which pierces through the fog. I am telling them not to sabotage their own efforts. Don't listen to that little voice unless it is necessary. Don't let your friends or family tell you what to do. Question authority as they are human too. Respect yourself. Be proud of who you are. Follow your own path. You know all these "Tony Robbins" coaching phrases. You don't need me to tell you that. However what you don't realize is it is unconcious. This is why I repeat it to them and have them repeat it to themselves. If you are having a hard time coaching yourself this way then I can help. Just trade my EUR/USD signal and that is all. Nothing more.
However "Get the f--k out of your way". Cheers!
It is also one of your worst enemies in trading. You know you take a position. You are sure that things are going to move for you and the price immediately begins to draw you down. This is almost a sure thing if you are going to swing trade. It is almost a guarantee that they are going to try to shake you out.
The mistake you make and trust me I have made plenty of them this way is to let your emotions into the equation. You have to remember that you are not the only market participant when you take a position. There are many of them. When you become a target so to speak is when you abandon risk management.
The whole point of trading is to make boring trades. You should never be getting excited about any trade. It will either move slowly in your favor or you will be stopped out. Now you can see by the charts below that I put my money where my mouth is. Always. I don't just make a random call and then abandon ship when I get into profits. I try my best to hold them. Sometimes for weeks or months at a time.
If you have a problem with this here is the solution. Trade so small that you don't care if you lose or not. Yes I realize you won't make much money either but the point is you won't lose much. The markets only trend about 20% of the time. The rest of the time you are trading market noise whether you realize it or not. So if you are a trader well that means that 80% of the time unless you catch a trend you run a risk of being stopped out. Herein lies the problem. You can't handle more than 3 losses in a row before you curse the system you are using and jump ship.
I always tell my children, "get the f--k out of your way". Now rather crude I know but it sends them a sharp message which pierces through the fog. I am telling them not to sabotage their own efforts. Don't listen to that little voice unless it is necessary. Don't let your friends or family tell you what to do. Question authority as they are human too. Respect yourself. Be proud of who you are. Follow your own path. You know all these "Tony Robbins" coaching phrases. You don't need me to tell you that. However what you don't realize is it is unconcious. This is why I repeat it to them and have them repeat it to themselves. If you are having a hard time coaching yourself this way then I can help. Just trade my EUR/USD signal and that is all. Nothing more.
However "Get the f--k out of your way". Cheers!
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