After knowing several reasons that make you face difficulties in opening trading position, let’s check out how to overcome your problems in opening trading position:
Trust in your trading signals
To overcome opening trading position problems, you should put your trust in the trading signals. Try to understand the method of your trading strategy, what market price conditions and when you have to enter.
You must understand exactly how the method you are applying. Then, you certainly will not open a position if there are no trading signals.
Besides, you will not hesitate if the signal to enter the market has emerged so that a good opportunity for entry is not missed. You can try it first on a demo account if you are not sure.
You have to remember that there is no perfect trading method. Getting a profit or loss is part of the process to become a trader.
By applying risk management properly, you should not have to worry about losses that might be consecutive, as long as you implement a trading plan that you have agreed to correctly and disciplined.
Believe in your ability and skill
According to Warrior Trading, no one else would believe in yourself more than you can. Believe in yourself that you are capable to become a successful trader is very important.
If you think that you will not be able to become a profitable trader, then sooner or later it will come true. You should avoid the way of thinking with trading that is ‘one-time’ direct big profits. But, you should think like professional traders who prioritize consistent trading results.
Avoid looking back with ‘backtesting’
To maintain your confidence and ability in trading, you should not look back by applying ‘backtesting’ to test your trading strategy methods. Backtesting will reduce your confidence to be able to trade in the current conditions, even though you have been confident enough in the market conditions in the past when the backtest was applied.
A wiser way is to try your trading method on a demo account or ‘forward testing’ on the real-time market with the current conditions so that if the test results are good enough, you will not hesitate to ‘pull the trigger’ trading.
Face your fears
What you have to fear is fear itself, which of course is afraid of suffering a large loss, or afraid that if the market does not take your side. The movement of market prices is a reflection of the character of market participants, and we cannot control it.
Losses in forex trading are things that cannot be avoided even by professional traders. Thus, you don’t have to go down just because you have lost that make you afraid to open the trading position again. Market prices always move with certain patterns.
If you can learn the meaning of these movements with the price action trading method, you will certainly be able to get many benefits in our trading strategy.
Read more: Can Simple Trading Method Gain More Profits?
