The ability to wait for your setup is the most important skill a trader can have.
Strangely enough, in trading, you absolutely must learn not to trade. Patience is key. We’re like predators lying in ambush: no sudden moves, no panic, just waiting for the right moment.
No setup — no trade.
Sometimes it's a day or two without trades, sometimes a week or even more.
Hard? Very. It feels like you have to participate in every move, squeeze the maximum out of every market, trade daily, nonstop — hands itching, mind racing, gotta make money. Some traders even set financial goals — I’m totally against that. You’ve got a "monthly target"? Great — now you're forced to find trades where there are none.
But there’s an awesome fix for that: create trading-related activities for yourself during downtimes:
1. Analyze your past trades.
In detail: average gain, average loss, win rate, risk/reward ratio, and more. Where are your strengths? Which markets and instruments work best for you? Where do you tend to screw up — late stops, premature exits, re-entries? How can you minimize losses?
2. Study price action after you close a trade.
Maybe you’re exiting too early and missing the rest of the move. Tons of traders scalp and make money, sure — but if they didn’t scalp, they could’ve made twice as much. Data from successful traders shows a clear edge in holding positions for at least a few days. Also — let’s not forget commissions: fewer trades means lower costs.
3. Test new setups.
Use TradingView's replay function to go back in time and trade historical data as if it were live. It’ll sharpen your eye for candle and chart patterns, help validate new strategies, and overall — it’s just super useful.
4. Read books.
All good traders read — a lot, constantly, forever. Sit down with a highlighter, mark up important ideas, and better yet — take notes. Learning never stops.
And now — plot twist: this is your actual job.
Not sitting and hypnotizing charts all day. Not entering a trade and staring at every pip like a madman — one second you're thrilled, the next you’re sweating bullets.
Yes, we look at charts and order books — all useful tools — but we analyze smartly, not emotionally.
Trading is everything that happens before the trade.
Waiting for your moment. Knowing exactly where your stop loss and take profit should be.
I was analyzing my trading and realized that my main recurring mistakes right now is exiting too early, then re-entering with a tight stop, getting stopped out, and then entering again.
Overtrading.
And the worst part — this isn’t the first time. But I know how to fix it!
In my next educational post, I’ll write about the most common trading mistakes and how I personally worked through them.
Because honestly — I’ve made every mistake you can possibly make, even the ones you’re not supposed to be able to make. I’ve been in all kinds of psychological states, and I’ve tried a ton of different ways to deal with each issue.
See you in the next one.
Strangely enough, in trading, you absolutely must learn not to trade. Patience is key. We’re like predators lying in ambush: no sudden moves, no panic, just waiting for the right moment.
No setup — no trade.
Sometimes it's a day or two without trades, sometimes a week or even more.
Hard? Very. It feels like you have to participate in every move, squeeze the maximum out of every market, trade daily, nonstop — hands itching, mind racing, gotta make money. Some traders even set financial goals — I’m totally against that. You’ve got a "monthly target"? Great — now you're forced to find trades where there are none.
But there’s an awesome fix for that: create trading-related activities for yourself during downtimes:
1. Analyze your past trades.
In detail: average gain, average loss, win rate, risk/reward ratio, and more. Where are your strengths? Which markets and instruments work best for you? Where do you tend to screw up — late stops, premature exits, re-entries? How can you minimize losses?
2. Study price action after you close a trade.
Maybe you’re exiting too early and missing the rest of the move. Tons of traders scalp and make money, sure — but if they didn’t scalp, they could’ve made twice as much. Data from successful traders shows a clear edge in holding positions for at least a few days. Also — let’s not forget commissions: fewer trades means lower costs.
3. Test new setups.
Use TradingView's replay function to go back in time and trade historical data as if it were live. It’ll sharpen your eye for candle and chart patterns, help validate new strategies, and overall — it’s just super useful.
4. Read books.
All good traders read — a lot, constantly, forever. Sit down with a highlighter, mark up important ideas, and better yet — take notes. Learning never stops.
And now — plot twist: this is your actual job.
Not sitting and hypnotizing charts all day. Not entering a trade and staring at every pip like a madman — one second you're thrilled, the next you’re sweating bullets.
Yes, we look at charts and order books — all useful tools — but we analyze smartly, not emotionally.
Trading is everything that happens before the trade.
Waiting for your moment. Knowing exactly where your stop loss and take profit should be.
I was analyzing my trading and realized that my main recurring mistakes right now is exiting too early, then re-entering with a tight stop, getting stopped out, and then entering again.
Overtrading.
And the worst part — this isn’t the first time. But I know how to fix it!
In my next educational post, I’ll write about the most common trading mistakes and how I personally worked through them.
Because honestly — I’ve made every mistake you can possibly make, even the ones you’re not supposed to be able to make. I’ve been in all kinds of psychological states, and I’ve tried a ton of different ways to deal with each issue.
See you in the next one.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.