Is Your Trading Plan Really a Sinking Ship?

On paper your trading plan is excellent. You even had several peers and mentors approve it as a winning trading plan. But time and time again you just continue to lose money. What could possibly be wrong with your trading plan?

 

It might be a sinking ship. Unbeknownst to you, your plan might be full of holes that are subtly leaking money from an otherwise perfect trading strategy.

See, a beautiful ship can appear as stunning it wants. But once placed in the water, it doesn’t matter if it has just one hole or riddled with them.

It will sink.

In trading, these holes manifest themselves in the form of unstable emotions. The reality is that it doesn’t matter if you’re suffering from one unstable emotion or a barrage of breakdowns. Your plan will still sink.

 

People always start their trading career with emotional holes; it’s unavoidable. But you need to focus on mastering each of those emotions one by one. FOMO (Fear of Missing Out), setup impatience, greed for more - these are all common examples. Master each one of them one by one and plug up your ship. It doesn’t matter if you’ve conquered FOMO but still hold on to losers. You need to be in control of them all. But eventually you’ll notice the rate of your losses begin to slow down.

            So stop wasting all of your energy into dumping out the rising water level. Stop placing bigger or riskier trades. Instead shift your focus to plugging up those holes. Once you’ve gotten them all, you’ll notice your ship will begin to float.