Trading mistake

[Ahmad 0]

Hello traders,

I'm struggling with  day trading for one reason "wishful thinking"

I'm trading since last year,  5 -6 trade with small profit ending up with a good profit on daily basis, but every week I do same mistake, I stuck in bad trade and wipe up all my profit, and this is really killing me.

 

Any advices for me and if you was in my situation one day how did you solve this issue.

 

Thanks in advance

[Abiel 472]

Identify your bad trading habits, turn them into goals, work them 1-3 per week, keep track of improvements, when done, move to the next 1-3 goals to work. 

[Ahmad 0]

On 2/4/2022 at 11:18 AM, peterB said:

if there is a technical solution then use it

- use hard stops

- use risk controls

- talk to your trading buddy/mentor to find out what makes you to hold on losers

- keep track of this mistake in your journal and make small targets like today i am not gonna do this mistake, then this week i will not do it, this month etc. it always takes time to fight these emotional struggles

- simply do not do it, you just proved that you know what your problem is. you will probably continue to do it until your emotional pain from the losing trade will be bigger than your fear of the change

Thanks a lot Peter, I will start work on it from today 

[Ahmad 0]

On 2/5/2022 at 3:08 AM, Abiel said:

Identify your bad trading habits, turn them into goals, work them 1-3 per week, keep track of improvements, when done, move to the next 1-3 goals to work. 

Exactly and I will start by lowering my position size

Thank you