It happens as the Trader/Investor has:-
1. No / wrong method
2. No / wrong risk management (including over-leverage)
3. No / inadequate emotional intelligence / control
4. No / inadequate discipline / patience
5. No / inadequate diligence
6. No / inadequate perseverance
Clear Method
A consistently successful trader must have a defined trading methodology, which is simply a clear and concise way of looking at markets. Guessing or going by gut instinct won't work over the long run.
If you don't have a defined trading methodology, then you don't have a way to know what constitutes a buy or sell signal. Moreover, you can't even consistently correctly identify the trend.
Our EWATSS® Trading System with an extremely simple User interface, will help you trade markets with a clear computer-driven trading method with its built-in rigorous sophisticated trading rules.
Discipline
When you have clearly outlined and identified your trading methodology, then you must have the discipline to follow your system. A lack of discipline in this regard is a fatal flaw.
If the way you view a price chart or evaluate a potential trade setup is different from how you did it a month ago, then you have either not identified your methodology or you lack the discipline to follow the methodology you have identified.
The formula for success is to consistently apply a proven methodology.
So the best advice to overcome a lack of discipline is to define a trading methodology that works best for you and follow it religiously.
Our EWATSS® Trading System with an extremely simple User interface, has a clear computer-driven trading method with its built-in rigorous sophisticated trading rules.
By simply waiting to buy when EWATSS® suggests to buy and waiting to exit when EWATSS® senses to exit, the Traders have an automatic strict but easy way to discipline themselves and avoid rushing into poor trading decisions.
Patience
Markets trend only about 20% of the time and for the other about 80% of the time, the markets are not trending in one clear direction.
If you are trading on Positional time frame (like Daily charts with expectation to hold your trades for a few days/weeks, which we recommend), our EWATSS® Trading System is automatically investigating/probing the markets and senses few high-quality trade setups every week and will continue to do so tirelessly for long times to come in future.
All too often, because trading is inherently exciting (and anything involving money usually is exciting), it's easy to feel like you're missing the party if you don't trade a lot. As a result, you start taking trade setups of lesser and lesser quality and begin to over-trade.
How do you overcome this lack of patience?
The advice is to remind yourself that every week, EWATSS® will be tirelessly sensing another few high-quality trade setups coming your way and there is hence no reason to lose patience while waiting for another EWATSS® high-quality trade setup just around the corner for you.
You should remind yourself that instead of rushing to block your precious financial and emotional into poor-quality trades, it is definitely superior to have patience to wait for next EWATSS® high-quality trade setup just around the corner for you, often within the next 1 or 2 days.
In other words, don't worry about missing an opportunity today, because there will be another one tomorrow, next week and next month...don’t worry.
You should have patience - not just aimless blind patience but patience to wait for what you know you have to wait for i.e. EWATSS® sensing next high-probability buy or exit.
By simply waiting to buy when EWATSS® suggests to buy and waiting to exit when EWATSS® senses to exit, the Traders will have an automatic strict but easy way to have patience and avoid rushing into poor trading decisions.
Money Management
A fatal flaw to overcome as a trader is a lack of Money Management.
To overcome this fatal flaw, if you have a small trading account, then trade small. You can accomplish this by trading a fewer number of stocks.
You must realize that one key to success in the markets is to maintain your financial and emotional ability to survive and stay and keep trading in the markets for a long time i.e. longevity.
If your financial risk in any given trade is relatively small, then you can calmly weather the rough spots. Conversely, if you risk, say, 25% of your portfolio on each trade, after four consecutive losers, you're out altogether.
EWATSS® has clear and simply presented risk management suggestions for all the high-probability setups it will sense to buy or sell.
EWATSS® will also keep updating its risk management suggestions for the trades as these develop on a day-by-day bar-by-bar basis, keeping you in control for simple decisions on a day-by-day bar-by-bar basis.
Above-average gains are possible and the sense of satisfaction one feels after a few nice trades is absolutely priceless. To get to that point, though, you must first get in control of above factors.
EWATSS® will assist you in favourably handling all the above factors and hence may place you in the top 5% of the Traders if you can follow the System and control your own self.
Best wishes.
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