What is your biggest forex trading weakness?

[virmon]

Hello all!

Yes, it is me again with monthly poll! The question this month is "What is your biggest forex trading weakness?"

Possible answers include:

a)I lose control over trades.
b)I struggle with emotions over losses and lost "potential profits".
c)Indecision is my greatest weakness. I hesitate too much.
d)I am not focused as much as I should be!
e)I do not stick to my trading rules and not always apply my trading plan.
f)I still haven't defined a good money management system.
g)I believe that I have magical powers and can predict the future.

If you feel that you have some other weakness (not mentioned above) please share Thank you for your votes.

 

[Tenapenny]

My biggest weakness is trading XXXX!

 

[jeffsmith]

Well...my biggest trading weakness is losing control over the trades.
I tried a lot but problem is still almost the same.

 

[mrsoul]

Hello all!

Yes, it is me again with monthly poll! The question this month is "What is your biggest forex trading weakness?"

Possible answers include:

a)I lose control over trades.
b)I struggle with emotions over losses and lost "potential profits".
c)Indecision is my greatest weakness. I hesitate too much.
d)I am not focused as much as I should be!
e)I do not stick to my trading rules and not always apply my trading plan.
f)I still haven't defined a good money management system.
g)I believe that I have magical powers and can predict the future.

If you feel that you have some other weakness (not mentioned above) please share Thank you for your votes.

My biggest weakness, one I am slowly mastering, is going on "Tilt" after making a series of bad, but avoidable, plays.

 

[shadowninja]

My biggest weakness, one I am slowly mastering, is going on "Tilt" after making a series of bad, but avoidable, plays.

Jesus. I've only done it three times ever. You need to hit that nail on the head or it'll ruin you. Perhaps learn to like losses or laugh at them.

 

[mrsoul]

Jesus. I've only done it three times ever. You need to hit that nail on the head or it'll ruin you. Perhaps learn to like losses or laugh at them.

A loss never bothers me.
What drives me crazy is making a really stupid mistake like taking a trade I know I should not have, taking a profit too soon when it was clear not to, etc.
Laughing at these mistakes is an idea; I have found learning from them and then immedately forgeting it is quite helpful- I guess that is all we can with past mistakes, both in trading and in life, learn from it and forget it.

Only been on tilt 3 times ever? Wow, that is great emotional control.

 

[GammaJammer]

My biggest trading weakness is not letting robots into my life. Can anyone help with this? I'll pay good money.

 

[MrMiyagi]

Hello all!

Yes, it is me again with monthly poll! The question this month is "What is your biggest forex trading weakness?"

Possible answers include:

a)I lose control over trades.
b)I struggle with emotions over losses and lost "potential profits".
c)Indecision is my greatest weakness. I hesitate too much.
d)I am not focused as much as I should be!
e)I do not stick to my trading rules and not always apply my trading plan.
f)I still haven't defined a good money management system.
g)I believe that I have magical powers and can predict the future.
h)I can't have the internet on because I'll just end up banging one out to pictures of otters.

If you feel that you have some other weakness (not mentioned above) please share Thank you for your votes

 

[demeanor]

My biggest mistake is timing...I dont know the timing......I hate it when I lose though I had a chance of winning the trade

 

[wackypete2]

My biggest weakness is my wife. She always yells at me, "honey do this, honey do that" right in the middle of a trade. I'm usually up about a million pips (give or take a few) and then the big win slips away! I love her anyway

Peter

 

[Mr.J-Arthur]

Lol.

"D" is the hardest, because focus is huge.
Less partying = bigger paycheck and more rewards.

 

[fayalac]

My worst weakness?, well read what mrsoul said and you got my answer, but theres another one, when following a trend you always fear it can be the end of it and you decide not to get in, the problem is that you knew it wasnt.

 

[fayalac]

Can the good money be shared among losses and the pretended robot?:whistling

 

[montpro]

Overtrading (I know, i know) and taking profits too soon!

What is tilt?

(at least I'm consistantly profitable now , albiet on a small scale, another 26 years like this and I'll have made my money back)

 

[fayalac]

Thats the point.

 

[montpro]

what is?

 

[shadowninja]

Tilt = over-trading = letting the demon take thee.

 

[shadowninja]

A loss never bothers me.
What drives me crazy is making a really stupid mistake like taking a trade I know I should not have, taking a profit too soon when it was clear not to, etc.
Laughing at these mistakes is an idea; I have found learning from them and then immedately forgeting it is quite helpful- I guess that is all we can with past mistakes, both in trading and in life, learn from it and forget it.

Only been on tilt 3 times ever? Wow, that is great emotional control.

Yes, I recognise that feeling and I've taken relatively big losses from losing control (eg 500 pips lost in a day).

 

[Lord Flasheart]

My biggest mistake in trading always used to be that id be in a trade that is going wrong,see a pattern developing that I know will go against me ,but oh no Id leave it in and keep leaving it in, Luckily I lost too much monmey that way so I gave it up. Nowadays its a case of occasional overtrading and occasional undertrading

 

[mrsoul]

Overtrading (I know, i know) and taking profits too soon!

What is tilt?

(at least I'm consistantly profitable now , albiet on a small scale, another 26 years like this and I'll have made my money back)

Tilt is a poker term.
It refers to the, very common, phenomenon of losing emotional control after making a series of bad, BUT AVOIDABLE, plays like: not entering a trade you should have, taking a profit way too soon, etc., etc.
When on tilt, the rational mind is destroyed.

Tilt is responsible for some seriously big losses in poker and trading.
As someone on this thread put it, tilt is when "the trading demon takes over".

When on tilt, it is very difficult to stop making bad plays; you must physically and emotionally calm down and learn from the mistake in order to get off tilt and restore rational thinking.