Fear Vs. Uncertainty in Trading

[Tradewinds 12]

I studied for about 13 hours a day for the first 3 years and then 8 hours a day for 4th year and now I average about 2-3 days a week of 8 hours per day study. . . . . I think I have found the truth but am looking to learn more. If you're trading without peace don't trade at all, wait until the peace comes first then trade. Peace is a good sign that you now know enough to begin.

 

Thanks for sharing about how much time and effort it has taken to get to where you are now. The effort I've put into trading is similar. I'm going into year 4 now. I'm looking for that peace.

[Tradewinds 12]

I am reading Rande's book, and becoming aware of thoughts and behaviors that I previously didn't consciously realize. The most recent revelation is that I have been seeking certainty from the market, which is a very random and uncertain place. To seek certainty from something like the market, puts me at an automatic disadvantage. It creates the exact opposite perspective that I need to have. Even though I "know" that I can only receive what the market is willing to give me, I tended to view that only in terms of price action, and not feelings and thoughts that can trigger while I'm trading. I look for certainty in terms of taking profit to early, or wanting to win 90% of my trades. In my quest for certainty from the market, I sacrifice opportunity to a desire for feeling safety.

Now I am at least knowledgeable of what I mindlessly do. From this new realization I can work on recognizing my impulses to seek safety and remind myself that seeking safety might be sacrificing opportunity IF I am contradicting my trading plan.

[tradelab 10]

Hey guys here is a cool video explaining you about fear and uncertainty in trading.

Reducing Fear and Eliminating Uncertainty When Trading With Live Money

 

Nate discusses the four reasons that cause Fear and Uncertainty in Traders when they make the shift to using Live Money. Nate shows you his Fear Reducer Trade Setup Card, which you prepare before each trading day. Nate explains both sides of the card and shows you exactly how he uses the Fear Reducer Trade Setup Card to execute trade setups in the market.