One small mistake
One small mistake and seconds later, you can be under an avalanche of problems in trading. Why is that?
The issues are emotions.
Once the cup is full, that last drop can crash the entire operation.
When things are fine, everything is easy, and you follow your rules without objections. Unfortunately, once you step over your personal threshold of accepting risk, for example, running a stop a tiny little bit, you might freeze and can't pull the trigger.
You might be fine accepting two losing trades in a row but find yourself incapable of pulling the trigger for a third try.
You might get tired after a certain amount of time exposed to the market and get overwhelmed and start making emotional trades or breaking your own rules and whatnot.
Subconscious triggers you aren't even aware of might get you spooked, and execution becomes irrational.
Just getting up on the wrong foot can cause a significant losing day.
How can you protect yourself in a maze so complex with variables uncountable in number?
A good set of rules is helpful, but how to be sure to obey them.
Here is a good trick.
Start with a small set.
Most of the emotional problems come from overload.
Overload is mainly triggered by too much data, and small time frame real-time market data is the ultimate killer.
If you only trade "daily call" / daily time frame setup supported plays with a sixty-minute time frame entry tool, it becomes much more manageable.
The daily call cuts your opportunities in half since it mainly tells you what not to do. Now all you have to do is obey that daily call like the highest instance of rules there is.
Following the daily call certainly will keep you out of losing streaks.
Now add a minimal set of entry tools, so your choices for next-day entries on sixty-minute time frames are less than a handful of entry categories.
Now you have a highly reduced system set of rules that are manageable and have time to condition all the other necessary emotional responses to expand as a trader but can participate without constantly running emotionally into a dead-end street.
One more thing. Your whole mission needs to operate under a positive emotional belief umbrella.
If you feel betrayed by the years of efforts and no money coming in, little is the chance you will create a positive solution.
If, on the other hand, you realize that your typical emotions most of the time betray you while the market forces you to condition accurate responses to a truthful world, then as such, the market is, in effect, your best friend to help you shape yourself into a better person that you used to be.
Not only do you have a better chance to become a consistently successful trader but, in effect, a happier person overall.