Trader Dale Volume Profile

Trading psychology
What I call the Cycle of doom and despair is a phenomenon and a reason why so many traders
fail. The cycle starts when you as a trader develop or learn a relatively good trading strategy. You
trade with it but before you give it enough time to master, you start tweaking it and changing
little aspects of it or you start to look for another strategy, which you
think would work better. In the end, you are caught in a circle where
you only look for new strategies, but you don't spend enough time to
master any of them. This way you are always losing money and always
Find one strategy
that you feel
most comfortable
with and then
stick with it.
looking for something different. This is the Cycle of doom and despair.
The only way out is to stop looking for new strategies. Find one that
you believe in, one which makes the most sense to you and which feels
most comfortable. Then give it enough time. Don't be impatient.
Trading isn't easy. If it were, everybody would be doing it.
One thing can be a bit confusing so I would like to make it clear. Traders
should try different trading styles to see what fits them best, what feels most natural and what
they are most comfortable doing. However, they should not jump from strategy to strategy. This
would be for example jumping between ten intraday strategies – that would be the Cycle of doom
and despair which makes traders fail.
How to handle winning
Congratulations if after all the hard work your strategy is successful and your equity curve goes
upwards! If you want to maintain being profitable, you need to keep respecting the markets and
you need to stay the hardworking and humble person.
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