Why pessimism pays off in trading

[⭐ analyst75]

The advice I’m about to share may seem counterintuitive.

 

But being pessimistic really does make you a better trader.

 

Let me explain…

 

Think about the time when you took a setup that met all the criteria of your trading plan.

 

It was such an A+ setup that you were certain it would hit your profit target.

 

And after calculating the risk-to-reward ratio…

 

You were just waiting to see that extra 3.5% in your account balance.

 

But no…

 

The market ended up reversing on you and started racing towards your stop loss.

 

All certainty and optimism you felt were replaced with a fear of losing.

 

And by the time you were stopped out, you likely felt a mix of disappointment and frustration.

 

Which you ended up carrying with you for the next trade you took…

 

Sound familiar?

 

Well, this is the danger of being optimistic about your trades.

 

You become so tied to the outcome that you experience an emotional rollercoaster when you’re trading.

 

And that’s why it pays to be pessimistic.

 

If you visualise your trade consolidating, retracing on you and even stopping you out…

 

You’ve already accepted the worst-case scenario in your mind.

 

So you can trade without any stress, anxiety or frustration.

 

And take your trading to a more professional level.

 

Of course, this is easier said than done….

Author: Charlie Burton

 

 

 

 

[maspluto]

Choosing a broker should be done carefully, as brokers serve as the bridge for traders to engage in forex trading. That's why I chose to join Tickmill, so that I can trade comfortably and safely in the future.

[Fin_Trader]

Yes, I agree that when trading you don’t need to dream that everything will work out for you and that the trade will be perfect and will go according to your plan. Therefore, I never make any plans for the day regarding the percentage of profit, but simply trade when there are conditions for this according to my trading strategy. When these conditions do not exist, I wait patiently and no matter how long it takes, because the quality of transactions is important to me, not their quantity.

[uncle gober]

Learning is indeed very important. Therefore, as a trader, it is advisable to thoroughly learn its workings and utilize all facilities from the broker, so that one can better understand and trade to the maximum potential with Tickmill broker.