AVOIDING SELF SABOTAGE IN TRADINGBY DAVID ONAOLAPODIRECTOR BLACKWELL GLOBAL(NIGERIA)

May 2, 2023

What is Self-Sabotage?Self Sabotage is when you subconsciously do things that prevent you from succeeding .You know what to do, but you simply do not do it anyway.Its literarily a fear of your own success

May 2, 2023

Signs of a self-sabotaging in Trading

If your answer to the following is YES…then you are self-sabotaging• You know you should develop a business

plan for your trading but you don’t anyway because it seem to be too much of work.

• You know you need to test your system to see if it really works but you don’t, you just trade it anyway

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• You enter a trade immediately or soon after a winner closes out and then realized you have just jumped into the market without your edge of strategy present.

• You ever consciously risk more than you should on a trade, then regret it immediately it goes against you.

• You know you should put a stop loss order in on a trade but you don’t.

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• You feel unworthy after making hitting a homerun because you have been taught that hard work is required to make such money.

• You are always pulling back below after increasing your account above a certain round figure

• You know you should put a stop loss order in on a trade but you don’t.May 2, 2023

REASONS WHY YOU SELF- SABOTAGE IN TRADING

Conscious and Subconscious

Consciously you want to succeed as a trader but your subconscious operates in a different manner balancing what is true about you.

May 2, 2023

Your subconscious is changing external circumstances to match what it believed to be most appropriate for you instead of what you desire.

Subconscious is at work whenever you do something you know is not right in trading

May 2, 2023

This is because your subconscious knows you still have a thing or two to learn before you earn the right to become a profitable trader.

Therefore it keeps making sure your level of success matches your true level of skill and proficiency.

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Practical way to avoid self-sabotage in trading

• Trading is a skilled occupation, develop the right skills.(Until you acquire this, your subconscious will continue to adjust you to the level of an unskilled trader).

• Create a business plan like you do for any business you intend to be successful in. if its not worth the paper, its not worth venturing into.

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• Find, buy or develop a good trading plan that suits you.

• Follow your trading plan to the letter• Do not deviate or go against your trade plan• Train yourself to be disciplined and controlled• Don’t get caught with the buzz of everything

in the market.

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Once you can do these, self sabotage will stop and end naturally because you have removed its cause

DO IT BEFORE YOU SELF-DESTRUCT

May 2, 2023