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Jack Francisco

What is Your Biggest Weakness As a Trader?

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Most humans are "designed" to lose in markets (Kahneman-Tversky's prospect theory: Risk seeking with losses and risk-avoiding with profits).

 

I am not sure if I should blame my designer or not :roll eyes: hmm...

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I think greed is my biggest weakness. Although I try my best to control this but still I feel that lot of work is required to control my greedy behaviour. It is necessary to control it because sometimes greed causes loss in crucial stages.

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Are you successful now? How did you overcome yourself as your weakness? There must have been a turning point when you said, "Aha! I've got it now. This is what I need to do!"

 

Please elaborate what weaknesses do you have in order to get rid of it?

 

There is this little imp living in me, his name is Greed.

 

He ask me to stomach positions bigger than i can afford.

 

He is very bad.

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Hi

Sometime its very difficult to judge how trading fluctuates with market inflow and outflow.

However various means and measures are avilable in the market to allure us of short term benefits incurring minimal loss. However hard it might seem most of the time either its a fraud case or huge loss.

 

Thanks

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My weakness is impatience. As i can't wait for long to get profit. But now, I am learning to read a long term chart.

 

i am agree with and i have the same problem, i tried to control my self, my emotion but most of the i failed to control it

 

I am trying still:missy:

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Nice Question:

 

I have been trading from last 5 years and my biggest weakness was that I usually get very much emotional and was unable to cut my losses - Every trader has this problem and if he is able to cut the losses that is a turning point.

 

When I started trading with strict stop losses and was able to cut positions in losses that was the turning point and It started to pay me - I paid a lot of price for that in thousand of dollars and wish no one pay such.

 

Cut your losses when they are small and float your profits.

 

Happy Trading

 

 

I feel the most horobal mistake is not trusting your wining experience. Unable to insist what you prepared and planned. But for biginners just need to cut the loss even profit frequently so you cant go too worse.

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