Strategy to Make the YouTube Deliveries of the Crab Trader 1000 Times More Effective | Episode 6: Factors Why You Can't Win in FX and Image of Good Profit-Taking
Profile of the Crab Trader
Crab Trader. Began YouTube Live on January 15, 2018. Streams all 12 hours from noon to late night, broadcasting every trade live. With the themes “Earn in front of you” and “You earn in front of you,” I disclose all entry orders, stop orders, and limit orders daily.
Twitter：https://twitter.com/keibakinma
※This article is a reprint/edit of FX攻略.com May 2019 issue. Please note that the market information in the body is different from current market conditions.
The Desire to Earn Obstructs
There are many factors why one cannot win in FX; it varies with personality and trading environment, so it cannot be generalized. However, I believe there are four main reasons why profits don’t grow.
From surveys taken during live broadcasts, opinions were diverse, but many people seem to struggle with “taking profits too early.”
The desire to “earn” is the most obstructive emotion in FX. What should be prioritized is not “winning or losing,” but “repeatedly making trades with a slight advantage at the entry point, calmly and consistently.”
Main Reasons Profits Don’t Grow in FX
1. Taking profits too early = wanting to secure profits quickly
If you take profits too early, you cannot extend profits. It’s understandable to want to close positions to avoid a potential drop in unrealized gains, but unless you let profits run, your overall outcomes won’t improve.
2. Not cutting losses or unable to = not wanting to lose
When you think “If I close now, I’ll incur a loss,” you cannot accept losing, and losses can balloon. Even if you decide to cut losses, you may be unable to do so when the moment comes.
3. Raising lot size too much = greed and emotional tendency
Increasing lot size can cause you to lose mental control and fail to follow trading rules. In the hurry to “make money fast,” trading becomes impulsive and unplanned.
4. Cannot wait = Posi-Posi syndrome
When you look at a chart, do you instinctively search for any entry point? Not having a position makes you restless, which is a dangerous symptom.
