Trading the Trend Podcast – EP026 – Should You Quit Trading?

Some traders just hate the feeling of losing so much they simply can’t stomach it, but should you quit trading?

In an environment where most people lose, you have to be able to do the things most traders cannot do. You need to take a different path, because the popular route clearly doesn’t work. This is why trading is so difficult.

The bad decisions we make in our trading all stem back to us being human. The fear we feel when we don’t want to open another trade in case it’s another loss. The greed we feel in opening more positions because we want more profits or action. The hope we feel that a losing trade will turn around when the price is telling you otherwise.

These are all normal human emotions.

And this is why trading is so hard to be successful at. You can’t stop these emotions. Going against these feelings, consistently, is a mountain. Where do you even start?

This is why 90% lose. It’s not because their systems are rubbish. Its that they can’t stop their emotions from influencing their decisions. They get in their own way of success.

Only a small % of people can play this game. Some will never make it. Others will quit eventually. And some, the ones who focus on themselves and learn what they really need to know, will make great money over the rest of their lives.

The Trading the Trend podcast was created by active trader Chris Chillingworth to share insight, ideas, tips and experience on how to improve as a trend following trader. Self described as a british bearded trend follower who likes rock music, wine and formula one racing.

Trend Following is a strategy that does not make predictions on the stockmarket, but instead looks at reacting to what the price of a market is actually doing. There is no attempt to be right, on the contrary, Trend Followers expect to be wrong most of the time. They focus on killing losses quickly and letting winners run to ensure profitability.

Trend following does not utilise fundamental data to form opinions on what the markets are about to do. It is all about finding a system that works and focusing your energies on executing it accurately.

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Chris Chillingworth is a systematic mechanical Trend Follower, trading and spreadbetting stocks, indicies, commodities and forex markets using mainly End of Day Trend Following Trading systems.

 

Chris is the host of the Trading the Trend Podcast, a show dedicated to Trend Following strategies, as well as The Spreadbet Beginner Podcast, a show dedicated to Financial Spreadbetting using Trend Following techniques, with both shows reaching over 100,000 downloads and counting.

 

Chris has been coaching both beginners and experienced traders since 2014 and has so far helped over 1000 traders and spreadbetters improve their results. Chris provides online video courses to help traders understand what they really need to know in order to become profitable and has always championed that your psychology is more important than your mechanics.

 

Chris also runs a one to one coaching service called the Inner Circle, details of which can be found on his website.

 

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