Are you trying to win every trade? TIm Bohen explains why this kind of mindset can be detrimental to your success as a trader!
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✅ Recommended video: https://youtu.be/XuXPm7IQEf0
✅ Recommended playlists:
Stock Trading 101: A Day Trader's Guide: https://www.youtube.com/watch?v=G_v3GMkKCjk&list=PLWWz2BSabm3bG64ohfJ-CnnVTjLCWwvei
Advanced Stock Trading Tips: https://www.youtube.com/watch?v=OXLs_-PgMUk&list=PLWWz2BSabm3YCZdk7ocrBXGJaLVXXFUYb
StocksToTrade Software Tips and Tricks: https://www.youtube.com/watch?v=jiTi-chHNyo&list=PLWWz2BSabm3ay_lvQC9JN_1niB78bI7ga
Weekly Trading Recap Videos: https://www.youtube.com/watch?v=_n0XaDt1XFY&list=PLWWz2BSabm3b3-4DcEx98TzNPLAKcq6ES
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One of the most important parts of trading is being okay with losing. Nobody wants to talk about losing but it’s an integral part of stock trading. Especially when trading volatile stocks, losing is maybe the most important thing you can focus on.
So many new traders do the opposite of what they should be doing. We've all heard the term let your winners run and cut your losses early. You would be surprised at how many traders do the exact opposite as soon as they see green. It’s tempting to exit a trade early because they want to stay green.
On the flipside, new traders can stay in a losing trade a lot longer than they should. They buy into a trade that is instantly red and then start researching, and making excuses to justify staying in the trade. This is how small losing trades grow into bigger losers.
Understand that you have to take those small losses, and always stick to your trading plan. Focus on intelligent exits based on the chart pattern and previous support resistance levels, write it out in your trade plan and stick to your goal and stop-loss.
#StocksToTrade #TradingStrategy #TradingPsychology
*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.
🔴 Subscribe for more free Stock Trading tips: YouTube.com/StocksToTrade
Share this video with a fellow Trader: https://youtu.be/hjP0CvSgROM
✅ Links we mention and recommend:
Try StocksToTrade for 14 Days for $7: https://stockstotrade.com/7daytrial/
Get our FREE weekly watchlist here: https://stockstotrade.com/watchlist
Check out the SteadyTrade podcast: https://steadytrade.com
✅ Recommended video: https://youtu.be/XuXPm7IQEf0
✅ Recommended playlists:
Stock Trading 101: A Day Trader's Guide: https://www.youtube.com/watch?v=G_v3GMkKCjk&list=PLWWz2BSabm3bG64ohfJ-CnnVTjLCWwvei
Advanced Stock Trading Tips: https://www.youtube.com/watch?v=OXLs_-PgMUk&list=PLWWz2BSabm3YCZdk7ocrBXGJaLVXXFUYb
StocksToTrade Software Tips and Tricks: https://www.youtube.com/watch?v=jiTi-chHNyo&list=PLWWz2BSabm3ay_lvQC9JN_1niB78bI7ga
Weekly Trading Recap Videos: https://www.youtube.com/watch?v=_n0XaDt1XFY&list=PLWWz2BSabm3b3-4DcEx98TzNPLAKcq6ES
✅ Follow StocksToTrade on social media:
Instagram: https://www.instagram.com/stockstotrade/
Facebook: https://www.facebook.com/StocksToTrade/
Twitter: https://twitter.com/StocksToTrade
One of the most important parts of trading is being okay with losing. Nobody wants to talk about losing but it’s an integral part of stock trading. Especially when trading volatile stocks, losing is maybe the most important thing you can focus on.
So many new traders do the opposite of what they should be doing. We've all heard the term let your winners run and cut your losses early. You would be surprised at how many traders do the exact opposite as soon as they see green. It’s tempting to exit a trade early because they want to stay green.
On the flipside, new traders can stay in a losing trade a lot longer than they should. They buy into a trade that is instantly red and then start researching, and making excuses to justify staying in the trade. This is how small losing trades grow into bigger losers.
Understand that you have to take those small losses, and always stick to your trading plan. Focus on intelligent exits based on the chart pattern and previous support resistance levels, write it out in your trade plan and stick to your goal and stop-loss.
#StocksToTrade #TradingStrategy #TradingPsychology
*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.
Yes
My biggest challenge is I want to win every trade lol .. and when I lose I start to think my strategy is flawd
Lost 60 dollars today being a dumb ass and being hard headed. After everything I've learned from you and Sykes. I still did the opposite. Crazy. Anyway, I appreciate your vids and I am now a member of Stockstotrade.
Thank you Tim B.
Getting better
This is some good advice, I will admit I'm not good at taking the small loss. The Stock to Trade will help me out because my big problem is that due to my work hours. I can't use my laptop all day so by the time I see what I lost I try to get it back the next day. If and when the app comes out it will help me big time.
Let your winners run and cut the losers 👍🏻👍🏻 you always good advice 😊
Im in australia and i cqn only trade the last half a hour at this stage. I fine it trucky to find out if the stock is selling off or just going sideway to the close.
I must be very comfortable with losing, because I do it all the time. Ugh
My entries are usually pretty solid. I end up holding too long and giving back some of my profit sometimes though.
Do you have issues choosing good entries and exits? Comment below!