The one word that will help you close more winning trades!
Here's the scenario!
You're in a trade which is going up nicely. You see a sell signal telling you to bank your profit.
But all of a sudden, near the end of the day when the market is about to close, you feel hesitant. In fact, you have this feeling that the market is going to keep on climbing.
And so you decide to hold onto your trade even longer, to try and squeeze even more profits from this trade.
The market closes and later you go to sleep with a big smile on your face. It's as if you can taste the profits to come in the morning.
But morning comes and you find that there's panic-selling in the market. It gets to the point where you lose all of your profits that you could've banked, and instead you bank an unnecessary loss.
This happens to most traders, and unfortunately they just don't have a big enough motivator to follow their rules as they should.
But I have one word that will help you to bank your profits and close even more winners.
Just say NO and you’ll bank more winning trades!
Don’t underestimate this word.
If you have a winning trading strategy then “no” will make you take action and follow your trading strategy not your greed, fear or emotions.
When a trade is going your way, and you’re thinking of holding it longer than you should. Simply say, “No! I will follow my strategy!” or when fear kicks in then you might want to get out of your trade faster.
Then simply say “no, I will follow my strategy as I know it will pay off in the medium to long term”.
You see, when you follow a specific trading strategy you mustn’t be tempted by greed. Greed will take over to the point where you deviate from your trading strategy.
Fear and greed might bank you a winner with a trade or two, but in the long run you’ll lose!
When you deviate from a winning strategy, you’ll base your decisions more on emotions rather than what has been proven to work. And we both know that emotions when trading is one of the fundamental reasons why over 80% of traders lose in the long run.
You see, fear might take over to the point where you close your trade too soon where you bank a profit prematurely. This is where you’ll find yourself banking small winners but then when a big loss comes it could break your bank!
So, Just say no!
Taking losses before you should is also another way to act irrationally and emotionally, where you’ll think about just one trade rather than the countless trades later. These countless trades later will make you more successful than worrying about each trade.
And so before you think of going against your trading strategy, take a second to say no!
By saying no, you’ll react less on emotions when you trade, and instead, you’ll follow your trading strategy as you should .
When you say no, you’ll also stop listening to your conscience and start following your trading strategy more carefully.
So next time when you’re in this sticky situation where you start to question your trading strategy, simply say “No! I’ll follow the strategy as I should”.
With this one word, you’ll find that you’re more likely to take action, follow your trading strategy and this will help you close more winning
If you don’t have a successful trading strategy, then click here
“A word yields wealth”