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Maybe I should have said simple Seasoned traders, did you guys reach a point where you were quite astonished at how simple, trading is? This is of cos after years of fine-tuning your mindset/psychology. How did that moment feel? when all the complexity vanished.
My experience: Trading is very, very complex when you look at the complete work. And that is the mistake or problem of the "beginner". Only with time, so after 3 - 5 years is so slowly the view for the essential. Everyone then looks at something else, something very special.
For me, the view has developed on the seasonal trading. I am not interested in any indicators as a signal generator.
When I realized that, success began.
OldGerman
The biggest risk you can ever take is not betting on yourself! (Bill Williams +)
For me, the shift happened almost overnight. I realized that I was thinking I knew what price wanted to do, when in fact I had know clue. Always placing trades against the trend and getting stopped out. Closing a trade to early or not letting it run its course. Now I trade exactly what I see (most of the time). Once I realized that I was my own worse enemy my trading improved 10 folds.
To answer your questions, I'll look at it in two parts. 1) As far as reading a chart and setting an expectation of what price is going to do. Very easy. I over complicated that part BIG TIME in my early days of trading. 2) Managing the thoughts and emotions is a little harder. Every now and then I still give myself analysis paralysis by over thinking what price is working towards and have to sit on the sidelines until I figure it out. Also, no matter how big of a winning streak I may have had, when I am in a losing streak, there is still an emotional impact. Even though I know losses happen, it sucks.
Hi Alex. Please stop thinking of what you are going through as a 'struggle' the word 'struggle' has a negative connotation. Think of it as a transformational process. I wish you well.
A strategy is born, has its time in the sun as a profitable strategy and then someday dies/becomes an unprofitable strategy because of some kind of change. To say trading is ever easy is to be in denial IMO of the finite lifespan of a strategy.
Of course you can cut the strategy life short by doing dumb things mentally but even the Dalai Lama can"t make a losing strategy profitable because of mental clarity or stillness.
I think to be successful trading must be easy. If you make trading hard then you'll never make it. People who load up charts with tons of indicators and things...I don't think they will ever be consistently profitable doing that. In order to have any chance at trading profitably over time you must simplify your plan as much as possible. I also think you have to (at least initially) work to eliminate as much subjectivity as possible from your plan and make it very black and white.
If you have too much information to consider then you're likely going to skip entries or have contrary signals and be confused. Confusion and indecisiveness are a few of the deadly sins of trading.
Seasoned traders, did you guys reach a point where you were quite astonished at how simple, trading is? This is of cos after years of fine-tuning your mindset/psychology. How did that moment feel? when all the complexity vanished.
