Topic: not paying? You should unlearn then relearn - page 4. (Read 561 times)
I think the "don't use the money you can't afford to lose" advice is also good for traders. Using a lot of money is one of the reasons why they got anxious pretty quickly, in addition to not using stop-loss or has trading discipline. If you know the money that you can use, risk management can be easier. After that, learning discipline is the next thing to do.
"unlearn And relearn"
The theory sounds good. But the reality is uglier.
Many who did trading when the trend was mostly up were on profit without actual knowledge. They thought they're trading, but it was closer to gambling.
All those have nothing to unlearn, because they didn't actually know anything. (It may sound harsh, sorry.)
Instead anybody who would like to trade should learn. A lot. From TA and stop loss to "reading" the news, rumors and FUD and find their way.
Also many have to understand that trading is not for everybody and the risk they take and the stress behind it may or may not pay off.
That's the problem for average traders, they get cocky when the point comes where they have consecutive good trades and end up not checking up their risk tolerance thus ending up with being stupid and ending losing back all the money that they've profited from trading. It's hard to gain humility especially if you're environment is full of competition.
I got the phrase "unlearn And relearn" from a forum member and decided to do something nice with it. Most traders start with good and constant profits but along the line the start facing heavy losses most of them are good analyst but can't maintain a clean trade. This has made many give up on trading some see it as a game of chance mean while trading is a continuous process which requires consistent studying and practicing. If as a trader you can't maintain a good trade sheet go do some newer research unlearn the process and relearn
It takes humility to excel in trading it's not a game for the proud because your student can become your tutor in the near future and some one you once showed a technique might have a secret you would need for a better approach. In trading team work too pays pretty cool expecially for starters get a trading mate who would join in analysing the market with you before placing a trade it would go a long way in perfecting your trade over time and also make you a consistent profit maker.
It takes humility to excel in trading it's not a game for the proud because your student can become your tutor in the near future and some one you once showed a technique might have a secret you would need for a better approach. In trading team work too pays pretty cool expecially for starters get a trading mate who would join in analysing the market with you before placing a trade it would go a long way in perfecting your trade over time and also make you a consistent profit maker.
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