If you want to really learn the market and its strategies then you have to keep your knowledge aside and must completely start learning as such that you know nothing about the market.
But it’s really difficult to wipe out your knowledge , but it is very important because then only you can easily understand new strategies without any confusions. I know it’s easy to say but difficult to apply, it will surely check your efforts to do so.
If you think that can combine your pre-knowledge with the new knowledge then I would suggest that it’s a very bad idea which is going to completely harm you in your trading strategies by working opposite to you.
I have come across many traders in my trading who assume that they know everything about trading and destroy themselves by saying so. But you should never ever make wrong assumptions for yourself, you should clearly accept what you know and what you don’t know.
Because what , if you have knowledge and if you come to know that whatever knowledge you have is completely wrong knowledge about the trading.
So if you have tried your strategies in the market and it’s not working out then you must understand that it’s time to try something new in the market. So to apply new strategy in the market you have to compulsorily forget about your previous strategies which failed in the market.
Do Not Combine Different Trading Strategies.
If you are applying combination of your trading strategy in your trade with lots of indicator , I would say that it is a wrong idea about trading.
Let a kid of 6 year old sit in front of that chart , what do you think whether he will understand it or he is going to pull his hair with confusions.
So your trading strategy should be such even a person who does not have any knowledge about the trading also understands and even a small kid should understand easily.
If the strategy is combined with lots of complications , it means you are not clear about what you are searching in the market.
Due to lack of knowledge about trading traders try to combine the different strategies and that’s the main reason why most of the traders fail in trading.
This I have learned from my experience as even I was in your shoes at one time and made the same mistake but then I realize my mistake and then I started trading Price Action charts purely.
You Need To Have a Faith.
It necessary to keep faith , if you are learning a new strategy from a system or a teacher or professor then you should strictly follow it.
And if you think that you want to combine that strategy with what others say then I would suggest please don’t learn at all.
Because if you fail to follow and start combining the strategy it means that you completely disrespect the knowledge as well your teacher.
Even after telling and informing about the drawbacks some people tend to get involved in such stupidity things so it’s your duty to save yourself from it.
So here it’s important for you to completely wipe out your knowledge regarding trading and follow only what is taught to you by your teacher to become a successful trader.
Accepting Your Failure Can Be Your First Step To Success.
You have been trying your strategy hundreds of time and it’s not working at all then it’s time for you to understand to move ahead of that strategy and accept that if you still continue working with that strategy it’s going to give you failure.
So that’s the time which gives you a need to learn a new strategy and master it but before that you must completely forget about your older strategies.
The main drawback is that even after getting knowledge from the tutor or professor the traders try to make their own ideas and thinking which badly affects them.
It is a saying the knowledge is a power but I would say a bad knowledge is not a power , but a destroyer which can destroy person mentally as well as financially.
So in trading a simple trading knowledge with the help of instruction can help you to trade better and effectively with the basic and essential knowledge of trading.
So to trade effectively you can join my price action course where I share simple trading strategies which is very simple to understand.
Happy Trading.
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