Why You Overtrade and How to Fix It! 👍

Рет қаралды 35,131

6 жыл бұрын

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Why you overtrade and how to fix it. www.financial-spread-betting.c... PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! FOMO. (Fear of Missing Out) Do you overtrade? I used to have this problem and I still have to be careful that I don't have too many trades open at any one time. The main reason we are overtrading is FOMO - i.e. Fear of Missing Out. We want to take that trade because we believe it could be a good winner and we want to express that by putting risk on the table. But overtrading can get so bad that it could end up your trading career. Unfortunately this problem is very common amongst day traders and swing traders alike.
How to fix it? Have a trading plan and set limits and just accept that you will lose a lot of opportunities. The whole point is to get the very best trading opportunities. Limit the total amount of 'acceptable net loss' you are willing to take. Another strategy you can do is to end the day after a certain number of wins.
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Пікірлер: 76

@ukspreadbetting 4 жыл бұрын

👉 Trade with our Sponsor Broker: Trade Nation

@davidhannan7702 2 жыл бұрын

Yep... This is killing me. I make money, then turn around and loose it and to make matters worse, go negative for the day. To top it off I repeat the same thing the next day after chastising myself about the problem. I know my problem, I know that I can make money, but can't keep myself from repeating my mistake.

@Tr1Hard777 Жыл бұрын

The worst is when you go up on the day and try to go up more than end up red then try to dig your way back out and end up deeper in the red not willing to accept it and stop for the day.

@repsolr1der921 3 жыл бұрын

i trade for 9 months.

@alertdaytrading5227 4 жыл бұрын

Thank you for this video. I watched a similar video you made about the same subject. You recommended taking 1 trade per day to fix over trading. That advice works so well. It has made me much more selective and patient. I don't give my profits away anymore. My losses are more manageable because I don't revenge trade. If I take a small profit, I don't trade more out of greed. I leave with a small profit and I look forward to the next trading day. Thank you for all your advice over the years.

@PassportG 6 жыл бұрын

The number one killer of retail traders accounts. Excellent video. 👍

@mattlane4107 4 жыл бұрын

Great vid. and yep certainly been a casualty of FOMO .)

@gustavo80br 4 жыл бұрын

Great content. One suggestion, on a good day, when you are winning on multiple trades, already made a substantial profit, reduce your hand size, as soon as you start to loose, then after 2 or 3 losses, stop trading and wait for another day. By doing this you will loose a small part of your day profit and dont feel bad for giving back all, or more than half, of your daily profit.

@workwithnature 5 жыл бұрын

I just wait for a big drop and then buy the dip with a stop loss in place. If I don't see that I don't go near it.

@kikowhitney 6 жыл бұрын

I over trade....it's psychological.....this video is so helpful. Thanks

@scott8363 4 жыл бұрын

This is exactly what i needed today bro! I love your content!

@jayrakmoola8137 3 жыл бұрын

5:04

@dormanbell8686 4 жыл бұрын

Spot on and well explained ! Thank you 1

@oscarswain3238 Жыл бұрын

Love you man. Thanks 🙏🏻

@chrisparkourgr 6 жыл бұрын

I am at

@MrDyersy 5 жыл бұрын

mate your a brilliant coach. thanks for your time.

@alisalam5291 6 жыл бұрын

Excellent video - I can relate 100% - there is a saying that says don’t pity the loser but the person trying to recoup his losses ! That is a dangerous game- I like the number of trades per day strategy and looking back I make a bundle when the set up is good and I press it hard only to give it back on non event days - I strongly believe the inflection point between being in the top 3% of retail traders is to overcome FOMO and stay focused - best way to start on that journey is to trade less ! Great work on the videos - thank you