Skip to main content

4 internal hurdles that affect trading success

These internal hurdles set back personal trading performance

Is trading success determined by nature or nurture? Certainly there are personal traits that are a ‘gift’ to some traders and there are those that handicap others. Good thing is traits are not cast in stone.With determination and help, individuals can modify their own behaviour.

Internal hurdle 1 – Cannot follow rule

In a traffic system that has clear rules, there are still individuals who choose not to comply at the risk of their own safety
  • Act according to personal whims
  • Harmful, self-destructive behaviour
  • Unable to follow plan


Internal hurdle 2 – Like to catch a falling knife
  • Catching low is a phenomenon that happens more often in the stock market among individual investors than in forex trading.
  • Cheap can get cheaper.
  • Then when price is zero, well it is really really cheap.


If hurdles 1 and 2 are most associated with individuals who have very strong opinion about what they want to do or achieve, the next two hurdles are likely to be associated with followers.

Internal hurdle 3 – Following the wrong crowd
  •  As we can see from 0:40 – 2:02 if jumping over the cliff did not kill, bravely swimming to where no one has swam before will.
  • ‘You jump I jump‘.


Internal hurdle 4 – No conviction

Eternally in a different state and always out of phase
This one lacks conviction to follow and jump and lacks conviction to NOT follow and jump


http://www.terraseeds.com/
Labels:

Popular posts from this blog

Extreme TMA System

The market, like a pendulum, is a never ending sequence of extremes. It forever tries to reach the mean but never succeeds, constantly overshooting it´s mark, reversing and trying it again but always failing to reach balance. This system attempts to capture those extremes. It is a compendium of my understanding of the market, brought to it´s simplest expression. The principles are not complicated. The first indicator, the TMA shows us the average of the path that the price action in the market is following. As such, it is a backward looking indicator and attempts to determine the future from the recent history. It corrects itself by repainting itself. It has two outer bands that show us the outer boundaries of price movement that we are searching for. Our second indicator, the TMA Slope indicator will show us the relative change in the slope of TMA as compared to previous candles. It determines in which direction a trade must be placed and also shows divergences to price. For examp...
Read more

YADIX – The First-Class Trading Environment for Forex Scalpers & EA systems

Yadix is a leading ECN/STP Forex Broker providing services and trading facilities to retail, institutional and professional clients globally with particular focus on forex trading strategies such as scalping and the acceptance of forex scalping systems. The management team at Yadix boast years of experience from operating within the financial industries with a wide range of experiences and skills that helps Yadix truly understand the needs of the modern-day trader, forex strategies and EA developers. As their clients, you are their most valuable asset, their philosophy is to provide an unrestricted trading environment for forex scalping strategies including the use of scalping systems and EAs. Yadix offers a range of valuable tools to clients such as multiple trading platforms, EA hosting and zero stop levels to compliment the STP trading conditions, superior execution and to comfortably accept all forex trading strategies without discrimination. Visio...
Read more

Tom demark Trendlines

anyone here used TD T'L's? they are over 70% (closer to 90) accurate with breakouts. using TD TL can profit on all timeframes down to 15M. scalpers and long term traders can profit from this. Also, u might not wait on a break of a TL but can trade its bounce i.e: the price is bouncing inside a triangle drawn by TD TL. here are the breakout qualifiers: Upside breakout qualifiers Qualifier 1: The price bar prior to an upside breakout must be a down close. Qualifier 2: The current price bar’s open must be greater than both the current TD Supply Line and the previous price bar’s close and must then trade at least one tick higher. Qualifier 3: The previous price bar’s close plus the previous bar’s “buying pressure” must be below the current price bar’s TD Supply Line price level. Qualifier 4: The current price bar’s open must be above both the previous two price bars’ closes, and the current price bar’s TD Supply Line must be above the previous price bar’s high. Downside breakout qu...
Read more