Pawluscha

@MichaelGoode Hey Michael, being a newbie who studies since months, I am very often calling on the right shares to buy or short but most of the time I am just too scared to actually pull the trigger. Then I often get into the position to really want to trade and most of the time do a stupid mistake with small losses. Any idea how to overcome this issue? Thanks!

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MichaelGoode
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MichaelGoode Mar 02, 18 11:57 AM

As someone who is by nature very risk-averse I also have sometimes had the problem of not being willing to pull the trigger and make trades. I think that is better than the opposite problem because if you are overeager to trade you will likely end up losing lots of money quickly. What you need to do is increase your confidence. The way to do this is to track the setups you want to trade consistently so that you can see how reliable the pattern is. Then start trading very, very small (even a $100

MichaelGoode
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MichaelGoode Mar 02, 18 11:57 AM

position size). After trading consistently profitably (excluding commissions) for a period of time you can gradually increase your position size

MichaelGoode
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MichaelGoode Mar 02, 18 11:58 AM

The benefit of doing it this way is you will be correct in being more confident because you will have a record of trading well

Pawluscha
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Pawluscha Mar 02, 18 2:08 PM

Thanks for your reply! I will definitely try doing this.

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