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You might be or you are a struggling trader - here are the signs

Last Updated: Jul 28, 2014 01:24PM CDT
You MIGHT be a struggling trader if ...
 
  • Your average pip capture is under 15 pips
  • You have refunded your account 3 or more times
  • You constantly get stopped out only to see the market go to your target
  • You think you can pick tops and bottoms
  • You get mad at the market when you lose
  • You blame the broker again for hunting your stops
  • You have never read the Disciplined Trader by Mark Douglas
  • Your account is dwindling faster then your gains
  • You concentrate on the reward of trading instead of the risk of trading
  • You have road rage at times
  • You are impatient at red traffic lights
  • You do not spend an adequate amount of time pre-market studying it
  • You do not trust your system's trading signals
  • You do not believe in the K.I.S.S. principle
  • You do not put support and resistance levels on your charts
  • You do not understand why a currency is moving in a certain direction
  • You have not memorized the most prolific chart patterns in the market
You ARE a struggling trader if ...
 
  • You bounce from system to system trying to find a perfect fit
  • You bet the farm
  • You are making 20-30 trades a week and not seeing profits
  • You risk more then 2-5% of your margin on all open trades
  • You do not assess your risk and reward on every trade and pass on making trades with less then 1 to 1 risk to reward ratio
  • You chase trades
  • Enter at the top or bottom of the movement
  • You pull your stops when it goes against you
  • You think stops are for sissies
  • You have to be in the market all the time
  • You are looking for the Holy Grail in trading
  • You keep looking for the next methodology to trade
  • Spend more time in online forums then actually studying the market yourself

 

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