Abstract：We have all been there. Spending too much time on the screen, drawing and putting on too many objects and instruments and it seems like you are getting more confused by the minute. These are all the symptoms associated with over trading and today we are going to discuss how to prevent this issue.
We have all been there. Spending too much time on the screen, drawing and putting on too many objects and instruments and it seems like you are getting more confused by the minute. These are all the symptoms associated with over trading and today we are going to discuss how to prevent this issue.
Why do we over trade
To sum it up its temptation. You see the charts and you already thinking about all the money you are going to make off a few winning trades and hence you start looking for trading opportunities even if your strategy has not show its set up. You also start seeing other trade opportunities of other trading strategies or old strategies which you remember and you will upset your risk and reward. Next thing you know you have opened a position hoping the market will go your way.
Brokers also want you to trade as much as possible and there have their ways of getting you to bet a little more that you usually would. They can advertise bonuses and crazy leverage sizes all to over risk your small account and over trade it. Be sure to find brokers who dont offer such phony tricks by looking for one through WikiFx. This app will help you find the best verified and regulated brokers world wide which offer reasonable accounts. You can also find which brokers are known scammers through the app and avoid the trouble before it comes. So remember, if you are looking for a broker always look through WikiFx first
How to stop over trading
Set a strict time when you will be sitting in front of the charts. That can be with trading sessions , meaning you only trade a specific time of the day and only then. This limits the amount of time you spend in front of the screen. This means you will be less exposed to temptation as a whole. Try trading only on specific times of your day you will see that your trading will dramatically decrease as you not exposed to so many opportunities.
Another way to avoid over trading is setting trading objectives and targets. This means after you have reached a certain amount of profit or loss you stop trading and walk off. This is a hard thing to do as sometimes you are most likely emotional about losing money or you feel elated about winning money and you want more but it is always better for you if you set those trading goals and stick to them cause they will save you from over risking your account.
Always think of new ways to limit your exposure to the charts. Your will strengthen your skills and lessen the amount of risk you take on your account. Protecting it for longer allowing you to trade for longer.
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