"Why do you think unsuccessful traders are obsessed with market analysis? They crave the sense of certainty that analysis appears to give them. Although few would admit it, the truth is that the typical trader wants to be right on every single trade.
He is desperately trying to create certainty where it just doesn’t exist.” – Mark Douglas
Mark Douglas makes a very good point here. How many times have you seen the ‘perfect’ trade setup, and entered thinking “it’s a perfect setup, it’s definitely going to work out”.
You’ve done all your market analysis and everything is pointing in your favor, it’s a going to be a definite win!
What happens next?
The trade doesn’t work out and you’re absolutely gutted. You feel like you’ve been betrayed by the market and the ‘tragedy’ has eaten part of your soul away.
The point here is – you should not put so much emphasis onto one trade.
It’s better to look at each trade as a part of a ‘series of trades’. Don’t risk heavy on one position, you risk bite size amounts spread over a series of trades to increase your probabilities of success.
If you want to learn how to trade the market the right way, i highly recommend you purchase your copy of the candlestick trading bible while it is still available.the ebook is 168 pages, and it covers my price action trading strategies that i use to trade the market.the strategies are easy, simple and very profitable. to get your copy , click on the link in bio or send me a private message.