Counting and Evaluation of Psychological Barrier %- a must for struggling trader


Well-Known Member
Below are Psychological Trading Blocks or obstacles while trading LIVE account.Sit back, read it carefully and be honest to yourself and count how many Blocks do you have currently out of below 23. Then rate yourself on percent basis and work on the negative blocks.

There is no need to post your blocks here, just be honest to yourself and see the wonders as you know your self better and better......
Work on those blocks because if you really want to shine as a Trader, you need to work on them and Win.... Be a Gladiator in trading!:thumb:

One will realize that as one gets proficiency in trading, these trading blocks will dissolve, only experience and firm determination to succeed in markets in whatever conditions can dissolve such blocks.A trader may get system - good or bad, but he has to work on these blocks himself to find trading success.

1) Fear of gained profits getting erode

2) Not knowing when to get out if the trade does not work out -When stop loss is not put( mentally or any other means), loss can be very big at some point of time because there is a hope of position going positive

3) Getting out very early

4) not following the plan or rather not trusting it

5) Ego of not accepting small timely losses

6) Tendency to avoid losses

7) Wanting to be right most of the time

8) Not accepting the fact that trading is a game of chances and hence completely attached to every single trade

9) Compulsion to trade after moderate or extended dry periods and hence trading by trial and error methods or taking wrong setup.

10) Feeling high when winning and feeling low with the loss

11) Forming market views at the time when the trade is triggered resulting in loss of opportunity or money

12) Dicussing the trades with peers or other people thereby increasing the pressure of being right

13) Bad money management which wipes entire capital in 3 to 5 consecutive wrong trades .These consecutively wrong trades are normal to happen because of inherent uncertain and creative nature of markets.

14) Greed may over take the thought out plan which might result in entire erosion of profits.

15) Adding to losing positions in hope to average out and position at bargain price.(Adding to a position turning negative is only good if it is the throughout plan as per the system which has considered money management already.)

16) Single trade focus - when in live trade, just focused on that live trade and neglecting other opportunities.

17) Not taking more than one trade simultaneously which are not correlated

18) Changing from good method just because of 2 or 3 consecutive losses

19) Considering Trading as Gambling and not business

20) Fear, anxiety or worry for every tick going in opposite direction - suppose you buy and then see red colored candle or one down tick and then the heart starts pumping faster with sweat oozing out.

21) Fear of uncertainty or helplessness or hopeful condition deteriorating physical and mental health

22) Trading when there is some confusion or not a clear setup so that the opportunity does not disappear

23) Preconceived notions about large profits

Case i

If a trader A has 15 blocks out of 23 , then the

PSYCHOLOGICAL BARRIER = 15/23 * 100 = 65% approx

more than 80% being DEADLY to less than 20% being IMPROVING
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