“I watched your first video tonight and I have to become more mechanical and have better-defined rules…”

Feedback in:

My biggest challenge was to keep my losses small. I did not have the discipline to set up stops or I hoped things would go back up but It has been a lot better now since I started to focus on managing my stops better or even add them after my entry order has been filled (usually a day after to avoid day trading rule). My biggest challenge now is that I have been cutting my winners short. I have been analyzing some previous trades from earlier this year and I realized I left quite a bit of money on the table. I got nervous and I “locked” my gains too early. This cost me thousands of dollars in missed opportunities. I am up [number] this year despite the crash and yes, I had several losses this year but I try not to risk more than 2-3% of my account. I did calculate where my account could have been if I had not locked profits so soon and it was a wake-up call. Now I don’t “regret” it for the money but rather it opens my eyes to the fact that I don’t have solid rules for taking profits so my rules are not complete. I was making emotional decisions since there was really no clear indication to close the trade. I watched your first video tonight and I have to become more mechanical and have better-defined rules. I understand that if I have a good define system and clear rules the money will come. I am still working on breaking even and turn profitable since I had some losses from before when I first started to trade. I am a lot closer to that goal now that I manage my stops better.

That sounds all over the map. A good place to start.

The Author