In this episode of 2Traders Podcast, Walter and Darren talk about what could be some of the possible issues for a trader who can make profit from good trades over a week and can loose them all in just half an hour. They discuss different factors that can cause this such as inconsistency, confidence, risk/reward management, and trading psychology. They also emphasize on the importance of acknowledging problems and finding ways to solve them.

Darren also shares some tips that can help you accept mistakes and how to avoid them.

Download (Duration: 16:28 /18.8 MB)

In this episode:

01:10 – jumping in too soon

02:58 – stray a little bit

04:04 – market condition scenario

05:21 – mental block

07:06 – off track

08:51 – snapshots

10:44 – watch the hour tick by

12:49 – reframing

13:23 – confidence booster

15:40 – don’t beat yourself up

Tweetables:

The system looks like it’s making money for you because it does. [Click To Tweet].

You don’t get there by making the right decision all the time. [Click To Tweet].

It’s through experience and through years of making a mistake. [Click To Tweet].

Download The Full Episode 47 Transcript Here

Walter: That’s, I think… Sometimes what happens with me is I will see the candles start to print and think I know what’s going on and I’m almost always wrong. That’s something to think about as well….

Announcer: Two traders, Darren and Walter, pull back the curtain on profitable trading systems, consistent money management, and profitable psychological triggers. Welcome to the Two Traders Podcast.

Walter: Welcome back to the Two Traders Podcast. I’ve got Walter here and Darren is over there. I guess summer is coming to you, Darren. Slowly, slowly unfolding for you.

Darren: Yeah, we’ve got the heat and off in the UK now. It’s getting better and it’s a bit more livable .

Walter: Right. It must be time to leave then and time for another trip.

Darren: Yeah, you know it.

Walter: Awesome! Well, we’ve got some really interesting questions that are trickling through. I thought that this might be a good time to take a look at those and I think you’re in agreement. I’ve got this question here from a trader that comes through and actually highlights a couple of different points, Darren.

One of the questions is: “I’ve got this issue of jumping in too soon in my trades and being too inconsistent in my trading. I can go a week or two making money and then I lose it all in half of hour after that.”

I guess the question is, really, what’s going on here with this trader? What could be some possibilities? Of course, we don’t know exactly what’s going on but there are some clues in the question.

Darren: Yeah. It sounds like it could be a risk to rewards scenario, kind of trying to avoid any losses, taking very small wins and then one lost is literally wiped in a lot out.