In this episode of 2Traders Podcast, Walter and Darren discuss holding on to winning trades, moving to break-even, entries and exits, and why you might get a different result compared to other traders using the same system as you.

Walter outlines some of the situations that may help you in finding the right approach to trading based on your beliefs and perception. Darren also points out how he uses a simple strategy for acknowledging trading mistakes, and using this knowledge to your advantage for your next trades.

Also, you may see what your biggest trading challenge may be, and why…

Download (Duration: 20:25 /23.3 MB)

In this episode:

00:58 – holding on to winning trades

02:14 – you’ve got that volatilities

03:35 – interview with trader Collin

05:02 – more wiggle room

06:55 – loss aversion

10:09 – pain of trading

11:43 – take on the challenges

13:40 – chasing your tail

15:25 – what’s the hardest thing to learn?

16:55 – the most important element

18:03 – expressing emotions

Tweetables:

Take on the challenge and feel good about yourself. [Click To Tweet].

Trading is about making decisions at key moment. [Click To Tweet].

The most important element of your trading system is you. [Click To Tweet].

Download The Full Episode 53 Transcript Here

Walter: The most important element is you. The way that you interact with the market and take risk in the market is based on your beliefs, has nothing to do with the CCI or the Alligator or the MACD or what Darren says or what I say,  for that matter. It’s really about you….

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 to the Two Traders Podcast. Walter here and Darren is over there. How are you today, Darren?

Darren: Very good, Walter. Thank you.

Walter: We are going to talk about a question that comes from a listener. The question is: How can I learn to hold on to my winning trades when I get them?

I’m pretty sure that you’ve got some thoughts on this, Darren, this idea of holding on to winning trades when you get them. Can you share some ideas for this listener? What might he or she be able to do?

Darren: This is a hot topic with the traders that I work with at the moment, as well. I find it becomes a highlight when you’re in a period where, perhaps, the winds are coming slightly harder.

Perhaps, when you’ve got a run of losses. There’s one event that I feel always stands out on my mind that causes the most trouble for traders and that is the fact that a winning trade is always going to come back to your entry.

The trade that you enter that goes directly to your take profit is the one in fifty… one in one hundred. Even though we’re fully aware with that,