HOW DO YOU KNOW WHEN YOU ARE ON THE WRONG TRACK?
Your trading has an automatic feedback system to tell you when you are on the wrong track. It is called inconsistent results. When you are losing more money than you are making from your trading, something is not right with your trading and you are going in the wrong direction. There are only four reasons for your inconsistency. You do not have:
- Enough education
- Time and or money for being a professional trader
- A system which makes money under current market conditions
- The ability to follow the rules of your system
There is another signal that you are on the wrong track that is not as definitive as poor performance. When you are experiencing emotional discomfort in your trading, you are on the wrong track. If you are plagued with fear, boredom, or the feeling that you need to get more excitement into your trading, you are also on the wrong track. Adequate physical, emotional, and educational preparation will allow you to trade with confidence and a sense that things are going along in the right direction.
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