• Nial Fuller

    NIAL FULLER Nial Fuller
    Professional Trader, Author & Coach

    7 Simple Solutions to Your Trading Problems

    SolutionsI’ve been trading long enough to know the most common mistakes that hold traders back from making money in the market and how to fix them. In today’s lesson, I’m going to give you 7 simple solutions that you can start using right away to slowly start start changing your trading results from bad to good, and then hopefully to ‘great’.

    If you’ve been struggling to make money in the markets recently and you feel like you need a “reset” button to clear the frustration and emotion from your brain, today’s lesson is for you. If you’re a struggling trader, you might think you need to drastically change your trading approach or that you need to read some “secret” book about trading that will show you the path to riches. In reality, even if you’re struggling to make money in the market or you’re losing money, you’re probably not that far away from being on the path to success. A professional trader really just thinks differently about trading than you do, and if you combine the correct trading mindset with an effective trading strategy that you’ve mastered, you really have everything you need to start making money in the market. Here are 7 very simple things that will improve your trading IF you do them:

    1) Take a week (or two or three) off from trading

    Sometimes the best thing to do is to simply clear your mind and get a fresh start. Unfortunately, in trading, it’s REALLY easy to turn into a frustrated, emotional trader who is glued to the screen around the clock trying to make back lost money or trying to make a quick buck. No matter how disciplined you are or how well-prepared you are, that little red “devil” on your shoulder is always competing with the little white “angel”; the angel is telling you to stick to your plan and remain patient while the devil is always telling you to trade when you shouldn’t and jack up your risk.

    Sometimes the best thing to do is to take a break from trading for one or two weeks. By that I mean, completely removing yourself from anything market-related for that one or two week period. When you come back to the market you will feel refreshed, focused and a lot more likely to stay disciplined and patient. Taking a break from trading will let the “dust” settle in your mind and will give you a fresh start and a chance to regroup and trade how you know you should rather than how the little “red devil” is telling you to.

    2) Sit down, figure out your dollar risk per trade, and stick to it

    Many traders are confused about how much they should be risking per trade. I know, because I get emails about this almost every day. There are really two very simple ways to determine how much you should risk per trade:

    1. Risk an amount that you could lose 20 trades in a row on and still have enough money in your account to continue trading.

    2. Risk an amount that TRULY allows you to “set and forget” your trades and sleep WELL at night.

    The bigger the position you have relative to your account size, the less likely you will be to stay calm and let the trade play out. There’s a positive correlation between the size of your position and the amount of emotion you feel for a trade; meaning, the more money you have at risk per trade the more emotion you will feel during a trade. This is why, after a certain dollar risk amount relative to your account size, you will probably start losing money overall. You have to keep your dollar risk per trade at a level that allows you to think clearly and rationally and not become clouded by emotion and fear. This might take some “trial and error” to figure out in the beginning, but you will soon know how much money you are comfortable with potentially losing per trade. Once you figure that out, all you have to do is not deviate from that dollar risk amount. This is a much more realistic and effective way to determine your risk per trade than using a pip or percent measurement, and it’s why I wrote an article on why you should measure your risk in dollars, not pips or percentages.

    3) Don’t increase your risk per trade until you’ve doubled your account

    mmMany traders make the huge mistake of increasing risk per trade after a winning trade or even after every winning trade. This is a very dangerous thing to do. One or two trades doesn’t matter and doesn’t really reflect your ability or inability to trade, if you don’t understand why then read here; one fact about trading you need to know. However, doubling or tripling your trading account on the same dollar risk per trade says something about your ability to trade the market. The point is this; it’s illogical to think you’re going to exponentially increase your risk per trade forever and for no reason other than you “won the last trade”. If you maintain your risk per trade at a constant dollar amount until you’ve doubled your account or more, it will instill discipline and patience in you and you’ll avoid becoming emotional about trades because you won’t have over-leveraged. This is really one of the easiest things you can do to improve your trading.

    Remember; a few trades doesn’t really mean anything, so you should not increase or decrease your risk amount based only on a small handful of trade outcomes. If you double or triple your account over time via following a proven trading method and remaining disciplined, that is a solid indication that you know what you’re doing and gives you a logic-based reason to increase your dollar risk per trade.

    4) Stop reading economic news

    One of the biggest things that causes many traders to struggle and lose money in the market is that they simply try to analyze too many variables. Reading economic news each day is something that many traders do, and it typically only causes them to second-guess themselves and (or) enter trades they otherwise wouldn’t.

    The other big reason not to waste time reading economic news or focusing on fundamental analysis is that it’s all reflected in a market’s price action anyways. So, if you just learn to read the raw dynamics on a price chart you don’t need to read anything else. Yet, many traders make trading significantly more complicated than it needs to be by trying to analyze every economic report under the sun. Cutting these variables out from your daily trading routine is another very simple way to improve your trading by reducing the number of variables you’re trying to analyze and make use of.

    5) Take everything off of your charts

    Similar to the above point about analyzing too many economic or fundamental variables, many traders analyze too many technical variables. If your charts look like a piece of modern abstract art because you have 10 different multi-colored indicators on them, the simplest thing to do is to just remove all that junk.

    Many of you are probably still using an RSI or a MACD or something, in combination with what you’re learning from my site. Honestly, the sooner you cut yourself off from those indicators the sooner you’ll see a positive change in your trading results. Almost every trader that I know, myself included, has gone through a process of looking for the “holy-grail” trading system to gradually using less and less indictors until they finally realize that the natural price action of the market provides them with all the analytical tools they need to develop a high-probability trading method. The faster you ditch unnecessary indicators the faster you’ll start to realize that simplicity is a big part of trading success and you’ll wonder why you ever tried trading with indicators before.

    6) Get off the intra-day charts

    Intra-day charts (any chart below the daily chart time frame) are often the killer of many trader’s accounts. Most traders tend to over-trade primarily because they are too fixated on intra-day charts. I’m sure you have probably caught yourself sitting there staring at the 30 minute or 1 hour chart like it was your key to instant-wealth, mesmerized by its every move; this is exactly what causes many traders to trade too much. As humans, we are really good at picking out meaningless patterns in things, and especially in the markets. The more you sit there looking at the intra-day charts tick by tick, the greater your chances become of talking yourself into a trade that doesn’t really agree with your trading plan or trading strategy. Ignoring the intra-day charts is a very simple solution to getting back on the right trading path, at least until a time when you are consistently profitable on the daily charts.

    7) When in doubt, stay out

    success-and-failure-signFinally, perhaps the simplest solution for most of your struggles in the market is to simply not enter a trade if you have even a tiny bit of doubt about it. Professional traders know when they should enter a trade and they know when they shouldn’t, that might be thee biggest difference between a pro and an amateur trader. The easiest way to make sure you don’t lose money in the market is to simply not enter a trade. The majority of people who keep losing money in the market do so because they don’t really have a trading strategy that is effective and that they’ve mastered. They continue to look at the market with no real plan and no real strategy, entering trades on a whim; they are over-trading. If you are not 100% confident in your trading strategy and your ability to trade it, yet you still enter trades, you are probably over-trading.

    A professional trader doesn’t over-trade because they have mastered their trading strategy to the point where they no longer have any doubt. Also, if there are no trade setups that qualify according to their trading strategy, then they are fine with not trading; they have the discipline to not trade. Having the discipline to simply do nothing in the market is perhaps one of the toughest things that you will face. You have to remind yourself that not trading also means you will not lose any money, and you should never lose money due to trading just because you “felt like it”. You should make a deal with yourself that you will only put your hard-earned money at risk when your trading strategy is telling you to. I personally know when one of my price action trading setups is present in the market, and I know when and how to trade it…because I’ve mastered them. Thus, when I scan through my charts each day it is something that is devoid of doubt….I KNOW what I’m looking for, and if there’s no setup present then I simply don’t trade, and I’m happy to not trade if there’s no reason to. That’s the point you need to get to.

    If you enjoyed this trading lesson, check out my Price Action Trading Course for further education.

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    Nial Fuller

    About Nial Fuller

    is a Professional Trader, Investor & Author who is considered ‘The Authority’ on Price Action Trading. His blog is read by over 200,000+ followers and he has taught 25,000+ students since 2008. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial's Professional Trading Course here.
    Nial Fuller Professional Trading Course Preferred broker 2020 v1
    1. Jags

      this is the best article. thanks & more Blessing to Share. (Gal. 6:9)

      Reply
    2. Brent Rooz

      Master oneself to Master others.
      Trade with oneself to trade with others.

      Reply
    3. gabstar

      u a like john the baptist to the world of forex GOD will strnghten u

      Reply
    4. ADEWALE

      Thanks Nial, this Article came right in time for me as i had removed myself from the market close to two weeks. I came back refreshed and ready to follow my trading plan to the letter.

      Reply
    5. Suresh

      Toooo good article

      Reply
    6. Barth Emmanuel

      Great work,I appreciate it.u a great tutor.

      Reply
    7. aaron

      hi Nial, thanks for your weekly newsletter they have been a real great source of motivation

      Reply
    8. olatunde ademola

      A nice write-up.We appreciate you once again.

      Reply
    9. Nabs

      Great article as usual !

      Reply
    10. arun m kumar

      hi nial, such a very useful article, as you said more analysis on fundamental, and technical indicators confuused me lot, i will stay on your suggestion in future

      Reply
    11. Piet Botha

      Thanks for the course as such and all the new things to learn.
      I’m only starting but can see that your way of doing it should put me on the right track, like all the other students.
      Regards, Piet.

      Reply
    12. frank

      boy oh boy oh boy! this is truly my biggest challenge fighting the urge to trade,it is just not that easy.

      Reply
    13. Khalif Kirwa

      You are God sent Nial, we connect at a deep fundamental level. Thanks for being my invisible Councillor in my council meetings from Napoleon hill’s Think and grow rich chapter 15. I am attracting the Lifetime Membership n joining soon!

      Reply
    14. Lyte

      Thanks Nial. As always your articles continue to inspire with todays lesson reflecting on my own thought process and trading. Risk management and consistency being key.

      Reply
    15. roy

      Hi Nial, Great!! your article came on right time. Thanks a lots.

      Reply
    16. rajiv

      Hi Nial,
      Thnx for the article

      Reply
    17. jotex

      3) Don’t increase your risk per trade until
      you’ve doubled your account.this point really sits me down.thanks Nial for your all time help and honesty.happy trading

      Reply
    18. Nabs

      Great article as usual ;-)

      Reply
    19. Peri

      Discipline & Patience plays a lot in going ahead for Solid Successful Trades ! Thanks NIAL ! !

      Reply
    20. alanw

      Hi Nials, Never a truer word said in all seven items,well presented, great article. W

      Reply
    21. KRISTOFA OKENTA

      Our humble Professor said something in this article that I suppose is a key to ‘my’ success,” Also, if there are no trade setups that qualify according to their trading strategy, then they are fine with not trading; they have the discipline to not trade. Having the discipline to simply do nothing in the market is perhaps one of the toughest things that you will face.” This sums up the whole story.
      Happy piping this week.

      Reply
    22. ebere john

      nice lesson nail well learnt i still have a question what id your have a bullish pin bar setup in daily timeframe and in 4hr time frame is show no sign of bullish but bearish is it advisable to take the setup?

      Reply
    23. Bram

      You the man Nial!

      Reply
    24. Gye Bennetts

      I love these mini lessons, each one seems to let a new and very poignant point sink into my thinking and from that my whole thinking about trading changes (again!). Very valuable, thank you Nial, Gye :)

      Reply
    25. Wajdi

      grrrreat

      Reply
    26. Justin

      Every time, I resolve to follow great your lesson but not easy. As always, thanks a lot for the wonderful lesson.

      Reply
    27. mohamed yossef

      nial i dont know how can i thank you i followed your article and your simple strategy , analysis and techniques

      and i trained on demo account four long time enough and after i lost many account i begin now the real account with only 25 usd and the results is very good

      many thanks my friend

      Reply
    28. Steve Price

      Great info yet again Nial. Despite my trading intraday charts and indicators with some success, you’ve convinced me that price action trading on the daily charts is the way to go and I’ve just started trialling it out before commiting for real. One thing that concerns me though – do you have any thoughts and/or strategy for dealing with possible daily chart gaps that may follow after weekend news? Any info on this would be much appreciated. Thanks – Steve P.

      Reply
    29. Ashvin

      very true…

      accepted…//

      Reply
    30. Siyabonga

      Thanks Nial

      Reply
    31. Jubaer Ahmed

      Really great Helpful Topic I like it..

      Thanks Again Nial… :)

      Reply
    32. Csízi Barnabás

      Thanks

      Reply
    33. Shilpa kakadia

      Great article…very informative. Thank you much for all good lessons!!:)

      Reply
    34. tochukwu ughadinjo

      this is a profesional touch to my career as a trader. this lesson is simply a tool that i need to grow in efficiency and returns as regards my trading career. thanks nial…

      Reply
    35. kamal

      this is very useful Nial, thanks for Your Help

      Reply
    36. Olisa

      Nice article Nial. Thanks for your selfless service to your fellow traders.
      God Bless.

      Reply
    37. Eklavya

      Nile…… You are simple and humble…
      Great lesson.

      Reply
    38. Paul Joseph

      I have to agree with you, although i dont like to say it, but you are right, because that makes me all wrong.

      its been many years now, since 2008, and i am loosing money. i need to learn more i guess.

      thanks a million.

      Reply
    39. joe

      Thanks again Nial for refreshing me on the shoulds and shou
      ld nots

      Reply
    40. emmanuel

      you are truly GOD sent, I do appreciate every part of your lessons. so wonderful.

      Reply
    41. Valdi

      The Starting Point
      Should be read every time before trading
      Thank you.

      Reply
    42. felix

      This article gives good advice to start creating good habits for when the time comes to start real trading.

      Thank you Nial

      Reply
    43. rahwa

      Always fantastic article. May God bless you and your family.

      Reply
    44. kumar

      It’s great Nial.Confidence is very important to getting
      our goal.

      Reply
    45. Anh Le

      Helpful
      Thank you very much !

      Reply
    46. Henry

      Thanks for the great lesson!

      Reply
    47. Mehdi

      Dear Nial,
      Fantastic and useful.
      Thank you very much

      Reply
    48. Brett Reynolds

      Good ‘Reinforcement’!

      Reply
    49. rcm

      Thanks Nial,

      Another very good article to add to your suggestions about daily affirmations.

      Reply
    50. Alan

      To all fellow traders. Pin this article to your wall. Thank you Nial.

      Reply
    51. Stuart

      Great article Nial. Point number three has been a big help for me along with not trying to hit a home run on every trade. Newbies need to understand trading is not a get rich quick scheme! However with patience and discipline it can be a easy way to earn decent money. Without patience and discipline you might be better off going to a casino

      Reply
    52. Tadeo Seruwagi

      Thanks Nail. Indeed the markets moved following the ECB president’s speech and yesterday after the us data. However, all has settled back into the price action frame work.

      Reply
    53. Grant

      Thanks for another great article Nial, its good to be reminded of the small important things about trading.

      Reply
    54. Juan

      Nice article, although in my newbie experience (3 months) I checked that fundamentals have a high importance in trading. See what it occurred last week on EURUSD. Thursday rose strongly, and Friday with US news, fell contrarian. To avoid these rallys you should set large stop losses.

      Reply
    55. Horliquegold

      I have learnt not to trade below the daily chart, i have done alot of analysis and realized that even the 1hr n 4hrs timeframe can give many fake signals even with filters. So i stick with the daily chart with a 2% money risked per trade, i dont care how manytimes i will trade a month. Its more about quality than quantity to me.

      Reply
    56. Haroun Kola

      Thanks for the article Niall. I’m starting my demo account trading, have a trading journal ready, and the trading plan on my screen. Looking forward to the journey…

      Reply
    57. Thomas Kruger

      Great lesson Nial – as always.
      Thanks!!!

      Reply
    58. Stephen

      I don’t want glote, but your strategy and harmonic patterns have gave me a great deal of confidence and success. I buy and sell off your principals of price action, with my own correlation of S/R and patterns. It’s a great deal, thank you!!!

      Reply
    59. ali malik

      good
      thanks

      Reply

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