billytt replies to: I can’t get rid of my bad trading habits…


Hey traders,

I’ve been trading with some bad habits which I am aware of. Every single time it happens, I say to myself not to repeat it and once I am in front of my screen and about to enter, exit or manage a trade, I forget about my bad habit and stupid mistakes until they happen again. Often times, when I realize them as they happen, I cannot tell my mind to stop doing this BS. Once I lay down in bed, preparing for trading the next day, I keep telling myself that THIS was the last time, it won’t happen again. And guess what happens the next day …

Some of my bad habits:

1.) Moving SL into profit after price goes nicely in my favor. Once moved and placed on a correct position and price comes back and close to my SL, I start moving it around, hoping price will go into my direction again and often just get taken out with a small profit instead.

2.) Not taking profits when my feeling says I should … or when reaching a decent risk:reward. Instead, I get greedy and very often punished, resulting in profit returning (but once I do not let it run and take my profits, price flies away in my favor .. ugh).

3.) Using a working and tested strategy of mine but sometimes still second-guessing myself and then missing the entry … and then cursing myself why I didn’t take the trade. Not sure how to improve that.

4.) Getting rid of the “I knew it!”-feeling. It blocks my mind.

So far that’s all as far as I remember. Any tips and advice? And before someone says I should read trading psychological books … I did and it was fine but after few days/weeks, my bad habits are back that refer to psychology.

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