Have you ever fall victim to this four possibilities?
1. The possibility of being wrong
2. Losing money
3. Missing out on trade opportunities
4. Leaving money on the table
Most likely we have all.
The reason we experience them was explained by Mark Douglas in his book “Trading in the zone” is that we are afraid of those consequences, thus your fear will act on how you are going to interpret the information of the market subjectively and ultimately causes the action you likely would take to create the very experiences you fear the most.
There is a saying “Let your winners run” and “cut your losses short”. Though, it is simple concept the grasp, but it is much easier said than done.
According to Brain Shannon from his book “Technical Analysis” – The goal of all trading is to make money without taking uncomfortable risk. Risk can be your best friend if you give enough respect to it or your worst enemy if you do not.
Therefore, your most important job is that of a risk manager.
Many traders loses money on trading were usually due to the two reasons. Either taking large losses that is unacceptable or “death by 1000 paper-cuts” which is taking many small losses. The very reason for those events to occur is most likely due to we don’t have a proper risk management plan in place.
The objective of CFD Risk Calculator is to help you calculate your risk tolerance in a heart beat. We understands that a second in trading could be an eternity and could be a difference between a winning or losing trade. That is the reason our app is designed to be exceptionally user friendly compare to other available tools on the market.
May this app will help to SafeGuard your hard earn money.
Lastly, just a few books of recommendation to read and we are not in any affiliation to them.
• One good trade by Mike Bellafiore
• Technical Analysis by Brain Shannon
• Trading in the zone by Mark Douglas
• Mindset by Carol Dweck
Wish you all the very best by willing to work hard and learning the market in-order to achieve becoming the consistent profitable traders that you wanted to be.
Disclaimer: We do not offer any investing advice and the description above has not taken into account your personal circumstances. CFD Trading are HIGHLY RISKY and we recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative.