How Contrast Can Destroy Your Trading Performance
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- Опубліковано 26 сер 2024
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We talk about the contrast effect and how this can cause big losses to your trading account.
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TRADING PSYCHOLOGY
We talk about the contrast effect and how this can cause big losses to your trading account. This is one of the biggest obstacles I had to overcome when I was learning to trade, to begin seeing consistent and sustainable profit gains.
This can affect our psychology and ability to close a trade at the right time, as well as our decision about appropriate position sizes and risk management.
Are you falling for this problem?
Presented by Nicholas Puri
Every time I do something stupid with my trades, I come to see your videos ahah. I just literally been a victim of the contrast effect. Just got an amazing gain on NATGAS, was so happy that then decided to go back again, this time I had my stop losses ready and stop profit also, exited with a small loss, tried to recover it... lost 26%. Yup, didn't create a stop loss, didn't want to believe it would keep going against me, even though it was clear as water that that was NOT the place to enter a trade, but I didn't think. So yeah, this is why I love your channel, My worst enemy in trading is me, and I know that, I know exactly what I do wrong, but that doesn't stop me from believing it will be different this time. And your channel helps me remember that these brilliant ideas are not brilliant at all, they are not worth the risk.
If I "only" gain 50 I tell myself it's 300 better than a -250 trade so I'm very happy with it.
good perspective
I literally drop everything im doing whenever i see a new upload so i can watch it lmao, keep up the great work!
All these effects and biases you speak of, how can we keep track of it all?
It would be difficult to keep track of them all, we’re only human and we will inevitably make these mistakes. But my hope is that if one of these things in particular is really affecting your trading, videos like this will help you realise and work at improving that one specific area.
@@Duomoinitiative Thanks btw im always watching your vids, and I tried forex and failed but now im learning all I can so I can do better, very interested in your course.
good record keeping and notes. Review your trades once they close and then on sat or Sunday when the market is closed, before you scan/look for possible trades for the week ahead. Good video I also over sized when I started. I suppose strict and accurate risk management really helps the contrast problem.
Spot on..experiencing this now. I was looking at the $ instead of the pips. I was using the wrong position size as well. Totally wrong mentality. I decided to correct it even if it's only a small, I hope I can slowly build it up rather than burning my account.
I found this video after burning through my account for exactly this reason. It's nice to find someone with a level head. Hopefully you can help me to become a consistent trader. Thanks
This is so relatable. In cryptocurrencies I used to make such huge gains in one or two days when it was increasing rapidly. Now I have to adjust to it and not get myself in a high risk trade, that way I can be consistent in the long run. Thank you Nick! I am learning a lot from you everyday.👍
Very relevant to me right now, im 2 months in to some backtesting atm and my strategy made a 150% portfolio gain in the first month, and only 10% in the 2nd month... i was wounded to say the least and morale was low lol this was only 2 days ago so this video has helped thanks
10% is a great return in 1 month!
From Pennsylvania , love your videos and the way you explain, blessings
Thank you Nataniel! Happy the videos help you
one day i was 3470 $ profit i open my account from my phone and i say i will close it on 3500 as fixed number i open it after 20 min i was 1500 $- ( in lose ) i learn my lesson for a fixed number 😒.
Thank man for every content you make and the behind the Sean shots was 😂 keep them on in every video 💪🏻
Great info man...for a relatively new trader like me...thats great info..thanks
Awesome video! and I love the funny parts you included at the end... it's a good reminder that we need to laugh more often 😂
Sure, had it so many times. Got over it but I'm still having bad times on when to close trades. Cutting losses before hitting the stop losses. But in overall I got better now.
Best broker to use with a small starting account and demo? Thank you.
Loved the episode it explains alot. Please more risk management strategy. Much respect Bro
great clip. very informative. keep em coming.
and youre not ugly mate..
He know.
LOVE THAT TRICKN
Great info....those who trade Bitcoin don't know WHY Bitcoin...
Its true bro, the gains am making on forrex are too small and not worth it than crypto gains.
spot on!
Should definitely do more bloopers after your videos. That was funny lol
how much leverage should we use
for beginneers
You*....you*
Excellent..
'like Tesco says every bit counts"??? haha
** Every little helps** good effort hahaha
Close enough 😂
love those bloopers, they add so much personality to the video!
Lol!Took me a whole year to finally be able to relate to these videos..i used to float alot.
Nice video man
Remember contrast
I'll take the penny advice
Out takes 😂😂 😂 Class!!! 👌🏼
Hi
Can you recommend forex broker?
Lots of broker in internet but lot also has bad reviews.
Hope you can help thank you
Just means they will puke em up all the harder for me to be a buyer:-)
LMAO
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