Stop CLICKING, and Start WAITING!
From my personal experience in trading, I have realized that we spend less time "trading" compared to the waiting period. Come to think of it, do you just enter a trade without doing any form of analysis on the pair or currency? Absolutely No! The time we spend in the trade, either we make money from it or not, is far lesser than the time we spend waiting for the setup to be ready, or for the trade to fit into our plan.
You might now be wondering, what has clicking got to do with trading? Well, the BUY or SELL button is what we click when executing a trade. In fact, clicking, clicking, and clicking is the main reason why most of us lost some money when we started our journey in trading. We just want to click the BUY or SELL button as many times as we can. I blew few accounts doing this. Not that I wanted to blow the account, but I got caught in the act of clicking BUY or SELL on every pair I looked at. And this is a common problem for newbie traders, they just want to have a position on every pair they analyze.
If you are currently going through this cycle, I want to let you know that you should STOP CLICKING and START WAITING. If you think about it deeply, trading requires a lot of patience. Your account balance won't grow overnight: it requires diligence and hard work. Trading is all about being patient and waiting for the right time to act. You might spend the whole week waiting for a trade to set up, and when it's finally ready, the trade will take only a few days to get to the target.
Do you think professional traders that trade on higher timeframes trade all the time? No, they wait for their best set up to be ready and go for it once all their conditions are met. This is the best way to trade because you are gradually removing emotions from your trading and analysis. Removing emotions from trading is going to save you a lot of stress and losses.
Do you know that the brain gets hijacked after we enter a trade? Every analysis you make after you execute a trade is a complete waste of time because your mind wants the pair to move in your favor, even when the market is going in the other direction. This is why the work has to be done prior to execution.
Take your time while doing your analysis, the market is not going anywhere. The market is even moving while you are sleeping, so why are you always in haste to trade. Let the market tell you what it wants to do and execute the trade at the right time. You will see a lot of improvement in your trading results if you can do this consistently.
Kindly let me know your thoughts in the comment section below.
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