How to Avoid Missing Trades to Increase Profits
Missing trades can be incredibly detrimental to your bottom line. It’s costing you big, we need to fix it.
The amount of times we’ve said ‘I knew I should’ve taken that’ or ‘why didn’t I see that setup, I should be in it’. This is a very real issue for a lot of traders.
Missing trades manifests in numerous ways. Multiple causes lead to missed trades. Once past this hurdle, we can begin to increase profits and the efficacy of our trading.
Why are you missing trades?
The first step to solving our problems is to recognise the reasons behind them. Our first port of call is to assess the reasons behind missing trades.
No clear trading strategy or rules
Getting this out of the way first and foremost — how can you judge something as a missed trade, if you don’t have concrete rules in place?
Your strategy must be solidified and set in stone before you start judging yourself for missing trades. If you don’t have rules in place or don’t know what your trade setup looks like, you’re lying to yourself and possibly making the issue worse. Being harsh to yourself for a missed trade, even though it doesn’t fit in with your rules anyway, is fruitless and damaging.
