Don't let Captain hindsight uppercut your trading account!by Timon Rossolimos
Captain Hindsight has three side-kicks.
Major Shoud've, Would've and Coud've.
'I should've held onto the trade longer because I would've banked even more profit!'
'I could've gotten out of my trade at break-even, but now I've taken a pathetic loss instead.'
If you've ever found yourself saying things like this, then you've been smacked by Captain Hindsight.
And so, today I'm going to show you how to beat the Captain and his cronies so he never destroys
your trading account again!
Let me explain…
Captain Hindsight will tempt you to ask 'what if' questions!
The first thing the Captain will do is make you question your own winning trading strategy.
While you trade, he'll make you ask questions like:
· What if I'm wrong about this trade?
· What if the trade turns against me immediately?
· What if my trading strategy is not going to work anymore?
When you ask these questions, you're basically second guessing your trading strategy. In fact, Captain Hindsight is trying everything in his power for you not to take the trade you know you should.
Beat Captain Hindsight and his three side-kicks with this one simple move!
If you don't take the trade when your strategy signals you to, then you'll find that Captain Hindsight will take over control of your trading account.
Basically, you'll be 'trading' a new strategy on feelings and doubt, which has not been back tested to show profits in the past.
And when you trade on your emotions, you'll ride your losers too long and cut your winning trades quickly.
And I can guarantee you now, the Captain will annihilate your trading account!
When you have a winning, back tested trading strategy, then you shouldn't ever need to ask yourself 'what if' questions again. You simply need to stick to your trading strategy, no matter what.
If you stick to your guns, and you don't let the Captain convince you out of your trades, your trading account will grow in time.
If you ever find that Captain Hindsight is taking over your trading, all you need to do is say to yourself is this!
'My trading strategy will reward me for following the rules in the medium to long term and will punish me for when I go against the system'
Keep taking the trades according to your strategy and you'll beat Captain Hindsight and his three sidekicks for good!
'Wisdom yields Wealth'
Editor, Trading Tips