What to do when you just can't win
What happens when you trade and trade and trade but somehow can’t seem to get it right? We’ve all been there! The system works, so why isn’t it working for you? Here are some practical steps that may seem simple but are worth following!
· Stop Trading
If things are continually going wrong, there is a reason. Our system is reliable, but there is a LOT to take in. There might be a lot of juicy looking stocks out there, but resist the urge to trade until you’ve figured out why every trade you have been doing is going against you.
· Analyze your trades
What was that definition of insanity? Doing the same thing over and over and expecting different results? Don’t trade like someone who’s insane! Take time to go through your past trades and find out what went wrong and why! All good traders do this. You won’t be perfect from the get-go, but you can vastly improve your trades if you know the problem and fix it. Take 5 past trades and ask yourself these questions:
1. Did I break any rules? (look at rules for each strategy)
2. Am I out of sync with the overall market?
3. Did I control my emotions or did I let them control me?
4. Looking back on the trade, what would I do differently if I could (would I even trade that now, knowing what I know now!?)?
· Talk to a Coach!
If you’re a Top Gun or Financial Flight School student, call the office and have a coach analyze your trades once you’ve thought through it yourself! They LOVE helping you and just 10 minutes can change your trading completely!
· Trade with LESS!
Stop trading with ALL of your money. This will allow you to “work out the kinks” of your trading without losing as much money. It’s common sense, but you’d be surprised how tempted you are to trade with more. Resist the urge and trade with less!!