3 Myths About Trading Which Make Traders “Lost Their Way”
Trading is basically hard, or very difficult. Not easy for trader to easily achieve success. Because this requires a lot of sacrifice, health, time … Because there are many important factors such a trader need to set themselves a proper route, because if “derailed “Every effort will fall on the river. To avoid that, you can refer to three popular myths in candlestick circles.
1. Win by good trading, lose by bad trading
A common misconception in the newbie, and unfortunately this is the most dangerous mistake. When a trade wins, it is easy to “be” associated with positive things. Obviously, profit is positive. On the contrary, when faced with a trade deficit, with the money lost in the account, we think this to the negative. Gradually, these two concepts stick together in our minds. And as a result, we will do everything we can to achieve “positive things”, including breaking the rules.
In fact, good trade is not necessarily trade wins, trade currency is not necessarily trade losers. The market is random, so your trading results depend on probability. Should not say good is win, bad loses.
Good trade is a trade that you follow all the trading rules, you control the psychology well and have the volume of orders consistent with the capital management system. Conversely, trade currency is actually the trade that you have followed the emotion, you enter the order of a subjective, non-rules, then no win, that does not make sense. Since trading is a long game, not looking for luck in a few retail trade.
2. The longer you trade, the more successful you get
Time will determine success? Yes, but not enough. We can think of spending more time with the greyhound as our chances of success are higher. This is not wrong but it is not sure. It depends on the quality of time you invest in trading.
If you only use the amount of time in the chart, meaning that 100% of trading time is watching the chart is difficult to raise. For simplicity, watching a chart is just one piece of activity in a variety of trading activities, including keeping a diary, reading a new book, trading ideas, and more.
The quality of time is reflected in a certain time frame, you do a lot of different things. It is the quality that really makes the success that we are still looking for.
3. Keeping discipline is synonymous with ensuring safety
Discipline is a very necessary element in trading. In fact, you try to break the rule a few times and you will see the huge consequences that it leaves. Discipline is born to organize everything that is chaotic in order.
However, does discipline really guarantee the safety of your account? The answer is no. In addition to discipline, you need to do more. If you keep a strategy that is not really effective with a plan that is not much better, with an unreasonable goal, the discipline only lasts “life” of the account, not can be safe.
Happy trading
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