When trading Fixed Time Trade, there are only 2 options. It’s either increase or decrease. So why are so few traders making a profit with this form of investment? Without enough experience, you won’t be able to realize the causes of losing trades in this seemingly simple thing. In this article, I will show 4 things that make a trader fail.
Not understanding the market
A trading strategy will include quite a lot of trading rules to help you filter out entry opportunities. Why do we need those rules for trading opportunities? Simply because they help traders better understand the market.
However, if you always trade in a rigid way, not flexible with the complicated movements of the market, then it will be very difficult for you to go further in your Fixed Time Trade trading career.
For example, your strategy focuses on Doji candlesticks and some different resistance levels. If you just look for exactly what is stated in the strategy and don’t pay any attention to the price action or current market conditions, you will certainly have a lot of difficulty in making an accurate prediction.
Not all Doji candlesticks are the same. Each Doji will appear and create a different scenario. In terms of appearance, they all seem to match the rules. But when the market conditions are different, the signals of the Doji candles will also give different results.
Don’t love the trading job
It’s hard to do something you’re not motivated to do. In Fixed Time Trade trading, if you don’t like the pretty candlesticks on the screen, the trading results will not be what you like either.
Trading is a stressful job, not easy to make profits as advertised. These pressures will force you to give up. Only passion can hold you back.
If you don’t like trading, the best way is to give up early to reduce suffering. The more you cling to it, the more negative results you will get.
High expectations are the main cause of losing in Fixed Time Trade trading
Expecting too high is a common mistake made by new traders. They do not have much trading experience, so they often think that Fixed Time Trade is not too difficult. This can lead to many unrealistic expectations. In a word, they are greedy but do not understand the risks.
The higher the expectation, the greater the disappointment. Losing a lot will lead to an impatient psychology. They want to get it back as soon as possible. Entering many orders at the same time, increasing money carelessly in an unstable mind makes them quickly burn all the money and leave the market in frustration and bitterness.
Meanwhile, experienced traders can also have high expectations even though they already understand the difficulties behind. But high expectations make people happier when achieved. However, only a few people can achieve what they set out to do. So if you are a beginner, don’t expect to get rich-quick from Fixed Time Trade.
The ego is too big when trading Fixed Time Trade
To be human is to have an ego. But if you don’t control it, it will destroy you. The ego will pit you against the market – the most powerful entity in trading.
You always love to win and think you’re right while the market is responsible for the losses. This will lead to the end that your pocket loses a lot of money and you still don’t know why.
My ego was quite big the time I first entered the financial market. I burned 2 accounts after just trading 1 month. And this happened several times again during the next 3 months.
It only stopped when I ask the questions. My prediction is right but why do I keep suffering from losses? Where are the problems?
Gradually, I realized the awful truth. My mind was blinded by overconfidence and pretentiousness. I was just too afraid to admit that I was the cause of all these problems.
How to make profits with Bearish Harami candlestick pattern in Olymp Trade
After knowing the reasons why you lose money, then you need an effective trading strategy. I will introduce a way to trade Fixed Time with the Bearish Harami candlestick pattern as the signal. First, let’s go to its features.
The pattern consists of 2 candles:
+ The fist candle is a strong bullish green one.
+ The second is a red bearish candle that fits inside the first one.
When you see a Bearish Harami pattern on the Japanese candlestick chart, you can open a safe DOWN order. To increase the accuracy, combine it with the resistance levels or other technical indicators.
These are the beautiful entry points of the Bearish Harami candlestick pattern that I made.
Which causes of losses have you faced when trading Fixed Time Trade? Have you found them yet? Be calm and look deep into your mind. Remember the times when you lose and get angered or disappointed so much. What makes you fall, the market or yourself? What is talking inside your head?
Let’s find out the root of all problem. Overcome it and change your habits. If you can do that, it not only helps you in the trading field but also every aspect of this life.
Salute and see you again in the next article.
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