If investors want to make some profit in trading, they must stop trying to control the market. They must accept the truth, they cannot control the market. Attempt to control the price movement of a trading instrument is proved as a bad idea because no one can control the economy of a certain country or asset. There will always be certain things that cannot be predicted and remain uncontrollable.
Self-control is regarded as a crucial factor for business success, and every good book will always tell you to control yourself. Beginners spend thousands of dollars to control the market and return being frustrated and sleepless. Instead of trying to control the market, they should control themselves by not pushing the wall because the wall will not move.
We cannot control others because everyone is different with a different mindset, but with greater perseverance, we can control ourselves. Now let’s explore the key facts for which we should learn to manage our trades.
- Why can’t we control the trading market?
The market is affected by thousands of variables in a single moment. It is mostly operated by computer programs that deal with the gigantic size of the database. There is no way a human being can work with this huge information and analyzing the whole data to take the perfect decision is beyond one’s imagination. But remember, to execute quality trades with high precision, you should use the best CFD trading platforms. With the help of a robust platform, you can do the data analysis without having any technical problems.
The only thing the trader can do is to see the graph chart and take their buying or selling steps based on uptrend or downtrend. A newbie looks at the trading platform with the attitude of controlling it, but he should keep in mind that he is only a single person like a boat in the vast sea. Controlling the boat mostly depends on the individual but controlling the sea is beyond his limit.
Traders’ goals should be to execute trading strategies and successfully execute their methods in a disciplined way to maintain a risk management system, but when they cannot control their greed to dominate the market, they lose concentration and get aside from their main goal. A beginner should keep in mind that he is responsible for his deeds in the market, and his acts will never affect others.
- Things we can control
There are certain things which we can control individually, and that is to decide when you will enter and exit the market. We can adjust our lot size and place a stop-loss order to save us from a drastic fall. Controlling the state of mind varies from person to person, and limiting our fear, anger, and greed can help to a greater extent to achieve our trading success.
Reading trading affirmations daily may help us to analyze the market technically and will be helpful for us to set a winning mindset, but we should care too in this case as this may convert as in a screen addict.
- Control yourself, not the market
The easiest way to control one’s mind is to open trade and forget about that. It is a simple theory to say but hard to follow, and it needs lots of self-discipline and perseverance. If anyone becomes able to open a trade and closes his computer for a week, then there is a huge chance he will succeed in the long run.
On the other hand, if he tries to control the market and sit in from the digital screen with the hope that a miracle will happen and he will get a huge profit, then he is living in fool’s heaven.
When we think about “controlling ourselves vs controlling the market,” we always prefer to controlling about ourselves because setting up a stop-loss order can minimize the single trade’s loss, but there is no option to control the huge market. The more we focus on ourselves, the more we see the improvement of our performance, and therefore we should stop trying to control the market to keep us more focused.