Do you struggle actually pressing the "place trade" button? Having a hard time deciding on when to place your trade?
You're not alone.
Last week I shared a fantastic lunch with one of our students who was driving through town. I loved getting to meet with Daniel and his son. But during the conversation I asked him where he's struggling the most with his trades. He explained how he has been a TSU student for nearly 3 years, loves our classes, loves the training, understands everything, but when it comes time to actually place the trade, he gets cold feet and struggles to actually make the decision!
Wow! I was kind of surprised on one hand, but on the other hand I wasn't surprised at all. Many people face this "analysis paralysis".
The good part of doing a thorough analysis is you can see every angle of the trade. The bad part - sometimes you can't decide!
It reminded me of an upcoming podcast I had cued up, and since that podcast went live yesterday, I thought you would enjoy it. Just remember - you miss out on 100% percent of the trades you don't take!
Also as a quick reminder, when it comes to trading, remember, if you're using a good risk reward analysis and the other risk management tools we teach, the odds of you going broke are very low. So go ahead, do the analysis, pick your direction, and hit the "place trade" button. Otherwise you'll never know! (of course, I always encourage you to do this first in your virtual account so you can build your confidence - which basically means you have NO EXCUSES to not hit the "place trade" button!)
Let me know what you think. And if you like what you hear, be sure to subscribe on iTunes or visit my personal site at JeremyWhaley.com
In this episode:
Jeremy Whaley is Co-Founder of TradeSmart University. When he is not working on new trading ideas he is developing new business concepts, tracking down investment ideas, playing with his 3 kids, spending time with his wife, working on their lake house, or maybe, if time permits, flying.