Hello Future Me (2024.07.29th)
I am 20 years old , I have been learning , trading and losing
money for the last 1,5 year ( 2.500$).
I learned a lot of technics that were supposed to help me , yet
they did not . So one day , After 12 hours of work when I was
watching youtube reels about trading I saw the video of a Man
who was talking about “ The trading Psychology “.
I found out his name : Tom Hougaard , 30 year experenced
London CFD trader . I have finished his book called : “The best
Loser, Wins” there below will be some of my notes about the
book , and Bunch of stuff that I do need to change in my own
trading behaviour.
“The Best Loser , Wins”
- Practise does not make perfect , If u keep doing exactly the
same thing . It works only if u find your mistakes and fix them.
- not only as a Trader but as a Person , YOU must not be
Arrogant . Learn to say: “ OK , I made a mistake , I will learn
from it and not repeat it “
- It is not about how much and what you know , it is about how
you USE the things you know .
- Tom: History does have good traders , but most of them lost
their profites the same Month . We wish , we Could know …..
1.
(98%) Of All traders lose money (Are u sure , that you have
smth that makes you stand out of the crowd??? )
For every success story , there are hundreds of Horror
Ones!!!
Most Small Accounts tend to lose for a Short-Period of time .
by ( Broker) =1000$
#Few things That Profitable traders have , according to
the brokers platform.
1)Good Account balance (5000$) at least
2) Trade frequency
3)Ratio of time holding lossing trader to winning ones.
4) adding to a positive trades
5) always us SL
“Hold Your wins, not losses” by Charyli D
” Noone is immune to Statistics”
43 millions of trader , 25 thousand traders win rate 62%, but
why they still lose money ?
Save your profitable trades and do not close them until you
squeeze them. Mostly Traders Take TP and go higher or lower
in your way. HAHAH lol
“ Find the HIGH and it will go Higher , find the Low and it will
go Lower . When it goes sell , only sell , when it goes buy only
buy , it is naver late to jump to the trade. There is no Cheap or
too Expensive , indicators that show overbought or oversold
are trash.
“Not every small conter moves are the start of the new trend “.
“Indicators all work some of time , but none of them works all
the time”.
48% of gaps are filled the same day , 75% in next 3 days .
BAD trader : Adds more money when He loses money , and
fixes the trade, half close or take small tp when he wins . Our
brain always try to avoid the pain .
Emotionally win>loses , Even if they are the Same Size.
Strategy is not only the KEY.
($)It is better to have a SL than having a potential BIg Trade.
($) Never try to get the lowest or highest part .
“Loser traders does not want to change , only a winner a
profitable traders decide to change “
” As my Father says , even in Trading you see the things That u
want to see”
” We lose not because of things we know , but because of the
things That we THINK we know “
“No Indicators - no overbought or oversold.”
“buy high , close higher >>> sell low close lower”
Trading - Is a SIMPLE MIND GAME >
1)Negative order - close it ( be ready that u are wrong )
2) Never add to your negative order to get 0
3)Never fix your Positive Orders
4)99% traders unaware of the fact that when u win you need to
ADD.
5)Always mark your old trades both , postive and negative ,
keep , learn , revice.
”Usual people hope when they lose , and they are afraid when
they win “
-add to your positive orders”
-add the half of the Fist Order “
” I know how much I lose , but do not know how much I will
win “
“ when u win you must HOLD , when u lose you must CLOSE”
”Never Try top catch up the Falling knife “
( hate - motivation , hate your old pattern of behavior , change
your trading MINDSET)
CONTROL YOUR MIND
1) I ASSUME THAT I AM WRONG, UNTIL IT IS SHOWN
2)I EXPECT DISCOMFORT
3)I ADD WHEN I AM RIGHT
4)I NEVER ADD WHEN I AM WRONG .
NEVER LATE TO JUMP TO THE TRADE.