Category: Tips / Psychology / General

Making trading mistakes is not uncommon. This is especially true for traders that’s just starting out because there is just so much to deal with in the beginning.

Following is an excerpt from the book “Technical Analysis of Stock Trends” written by Robert D. Edwards and John Magee:

Trading breakthroughs can come at any time. More often than not they are the result of positive actions that’s taken consistently through all the ups and downs (especially the downs) that comes with trading. 

If you are a discretionary trader like me, there is always the possibility to deviate from your strategy. Some of those deviations might be small and they might be “forgiven” because they are still within the boundaries of your trading strategy. Other times you will deviate entirely from your strategy. Ultimately those deviations, whether big or small, can cost you.

Do you see yourself as a trader that hasn’t shown much improvement in your trading? Are you starting to doubt yourself and your ability to make it as a trader? Maybe things are not as bad as you think.

Many traders want to know why they are struggling, what they can do to improve and what it takes to become successful. A lot of the time the answer can be found in a trading journal. 

Can you still remember why you started trading? Was it because you wanted to quit your job, because it sounded like the ultimate side hustle, the potential freedom it offers, or whatever benefits come with having lots and lots of money?