Is Your Strong Work Ethic Harming Your Trading!? 🤔

[@DavidSkerritt]

Excellent point Mark. One of the traders in our group told us long ago, "The market pays you to wait". Waiting for the correct setup that looks clear and "good". I have a post it note under one of my monitors to remind me of that every trading day.

[@krkv3405]

agree with this video. After many, many years of trading...waiting and waiting and waiting is key

[@paulelago9453]

I take every trade expecting to lose, so I tell myself I should not be in a rush to lose my money. The reason we over trade is that we think the next trade will be a winner,accepting the lose will prevent you from over trading. Take every trade like it’s going to be a loser. Then you’ll be more defensive, you’ll try to trade as little as possible with the least amount of risk. Waiting is an important skill in trading.

[@kalchhul]

Very well said, Mark. An analogy also could be - not taking a decision is also a decision, maybe because the time is not right. Similarly not taking a trade is also a trading strategy, maybe because conditions are not right.!

[@floydsmithjr7999]

Yesterday was a prime example of this. I was watching a stock that was in my setup. The problem was the market as a whole was in the opposite setup, so I paper traded it just for the exercise of trading, good thing it was paper, I lost 100% of it. The market never recovered, it was basically straight down all day with very small pullbacks. It was a good reminder to me to make sure EVERYTHING is lined up before proceeding. If you were shorting you probably had a banner day, long not so much. You’re 100% right, sometimes it’s better to just close up shop and go home before you do something stupid.

[@fulltimetrader48]

Agreed. I’ve forced so many trades.

[@robertquigley8467]

Timing is everything. We have all failed to get out with a decent profit at the right moment only to hesitate and watch it turn into a loss three seconds later. Generally learning never stops but really at some point learning comes to an end and the job is to trade and invest based on the probabilities. The news, the research, the guru opinions, the weather, the politics the educated guesses all are simply pieces of the probability puzzle. Got two big 100,000+ share swing trades on this month. If my probability determinations are correct and the market is kind then my net returns might be $150,000 for March but if the probabilities don't work and or the market is stingy then my monthly gross returns might be $15,000. Of course some catastrophic event could occur and I'll be holding red for a long time! Trade with time of your side... Simple..... Best of luck Chris.

[@lindsaylucas3553]

Every single trader should watch this more than one time

[@stebarg]

Having a good instinct is key!

[@The.RenaissanceMan]

Gamblers are addicted to the buzz. Its less about winning or the fantasy of their ideal life. Overtrading creates losses and causes extra time toward your ideal life with the money you need. Therefore, diving in prematurely is one of the biggest obstacles to getting where you need to be. Create a buzz about perfect execution rather than being in the market. Process vs outcome

[@adamchilds9132]

I fell into this pattern also, I also think as well as forcing it simply being tired from over work makes it harder to tune into the market.

[@michaellynch7219]

Hey thanks for the weekend video Mark

[@LondonFuturesTrading]

Thanks for the Video, this is exactly me

[@_N0_0ne]

Thank you kindly ✍️

[@ukspreadbetting]

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[@metatrontrades]

Absolutely.

[@sabastianjohnson4600]

Guilty of taking on more risk and trades I shouldnt be in because I am trying to force it. The trigger is usually a series of frustrating events. You get stopped out or take small profit and the position explodes 2 mins later... This is what did it for me last time I made this mistake. For myself and probably many others, I think the root cause of this is a deep learned reflex from our youth where we immediately do what ever it takes to get good results as the loss instigates fear of rejection. Imo this is one big thing that leads people to overtrade, take profit too early and/or take on too much risk. I still haven't completely eradicated this behavior but being aware and stopping the damage feedback loop is crucial. Funny enough, after I make the mistake and the loss happens, the fear of failure goes away as the loss has already happened and I begin trading well again.

[@lindsaylucas3553]

Honestly you always have a fresh idea I love it something I deal with everyday but never think about like this

[@lindsaylucas3553]

Most underrated trading channel ever! I eat it up

[@lindsaylucas3553]

I’ve only done construction type jobs I’m 28 since I was 20 and extremely hard ones this video hits so hard you are 100% right my work ethic has helped me in trading at times but other times I need to know when to back off and take a break

[@lindsaylucas3553]

If you read this I’m really curious what your very first indicator to hold back and just almost take the day off

[@SinisterAnimationS]

Currently dealing with finally developing a strategy and having back tested for hundreds of hours only for the market to not meet my entry requirements and end up forcing trades, and since it’s a day trading strategy not having set ups for multiple days makes you feel lazy. One thing that help me is to back a months worth of data and count how many trades I take per month on average. and even as a day trader you might only have 3 or 5 trades the whole month per pair. Patience is a very hard skill to develop

[@SinisterAnimationS]

Putting other traders posts on mute on social media also helps with overtrading 😂

[@dukedepommefrites8779]

Wise words mate. Are you listening Big Shot?

[@kaushikdatta2725]

Mark the Zen standing :-)

[@williamsimbarashemotsi527]

I have been trading for while, become consistently profitable 2 years ago, I need to evolve and start trading stocks, which broker do you recommend Mark?

[@ukspreadbetting]

Depends what you want to trade but any properly regulated broker will do.

[@truptipanigrahi3016]

lol that thumbnail

[@SuperBartles]

Not a problem that is in danger of adversely affecting me, I fear..

[@goodfty]

I'm glad to see others are aware of this too. In life you need different personalities and modes you can tap into. Consistency across the board is as true as the "holy grail". In otherwords it's bullshit.

[@NathanJulienpoet]

thank you

[@RakibHasan-hs1me]

Yes

[@larskarlsson6651]

Eeeeeexacly what i am struggling with now.

[@mazimov]

man, totally agree with you !!! that is so counterintuitive in this day and age where hassle culture seems to be the only way to go. btw, where can i find you on twitter? :D