Two different traders with the same budget and strategy trade the same ticker…
Yet one of them will get a positive ROI while the other one loses money.
I see this all the time!
The reason why lies inside your head.
You see, trading psychology is one of the biggest determining factors of whether a trader will succeed or fail.
Here’s the thing: trading is driven by two primary emotions…
FEAR and GREED.
Every successful trader has overcome periods of fear and greed in their career.
… Periods where you let your losers run…
And cut your winners short.
And every failed trader hasn’t been able to escape the grips of these two emotions.
When I started diving into the world of trading, I thought it was strictly a matter of numbers.
I would fry my brain studying every night…
Looking at financial statements…
Studying new strategies…
But when morning came and I sat in front of the computer to implement what I had learned…
I’d still lose more trades than the Jets have lost games in the NFL.
I know, I know… low blow to Jets fans.
But I grew up a Jets fan, so trust me, I feel your pain.
Anyway, the point is that I knew something was wrong.
Every trade I got into felt like jumping from a cliff…
Not knowing what was waiting for me at the bottom.
What was happening is that, even though I was looking at the right numbers…
I wasn’t looking at ALL the right numbers.
There was a missing piece to my trading puzzle:
Thankful, I found Nigel and Randy, who taught me how to harness the power of volume.
I got rid of the fear and started having some success.
I learned that anything that falls also has the ability to rise.
Unfortunately, I rose too high for my own good on some occasions.
I got greedy on winning trades.
By identifying when volume was pushing the price, I was able to spot the precise moment to go in and if I should go long or short.
But I didn’t know when to get out
I wanted ONE trade to solve ALL my problems.
And let me tell you, greed is more dangerous than fear.
Fear can protect you.
Greed blinds you to potential threats.
But why am I telling you all this?
Because I’ve seen way too many people get burned by trading emotionally.
Trading is not all about numbers.
You need a strong mindset to make it in the trading world.
You may have the greatest plan ever, but if you don’t stick to it then what’s the point?
That’s what I love about the Hawkeye tools.
It’s like having an expert trading advisor sitting next to you…
…telling you if the opportunity is worth it, when to get in, when to get out, when to go bullish, when to go bearish.
This way you can avoid trading with fear and greed.