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Not taking trades because the setups seem too obvious


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Not taking trades because the setups seem too obvious

  #11 (permalink)
 
xplorer's Avatar
 xplorer 
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markus3500 View Post
For the most part they work out, which is why it makes this so frustrating. Not to mention the "why didnt I just take the trade according to plan" floating around in my head afterwards...

To me they seem obvious... they may not be. I trade alone with no circle at all....

One way to look at it: they may be obvious to you, but how many people trade with your exact chart settings? I.e. not everyone looks at the same timeframe, indicators, etc. and, even if they did, everyone looks at the same things with different eyes and targets. What might be an edge for you might be invisible to me and viceversa.

Also, if these setups work out for the most part it means, as you said, the issue is purely psychological. I think it's great, because that means you already identified what to work on.

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  #12 (permalink)
 mmatlios 
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markus3500 View Post
I appreciate everyones input on this. I know this is a demon to be dealt with from within... reasons one gives themselves not sticking to the plan thats laid out for fear of failure. Just wanted to get it out there and see what others think...

Spot on. Now you know what causes it. Try downsizing and trading micro lots to gain some confidence.

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  #13 (permalink)
 
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I also think of it like this....

Think of yourself as the casino. Your particular system/setup that you have back tested has an edge, either by percentage or by payout. Since you have back tested it you know it works in the long run (in the future). On average it is going to pay you to play.

The very next trade does not matter. Your system is not built on what will happen in the very next trade. Your system is built on what will happen over a series of trades.

So why wouldn't you play that game? As long as you follow your rules/process - take the trades.

In the long run over the course of several trades your edge will show.

Take 10 trades and record the results.

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