“Most traders make decisions based on their last 3–5 trades. If those trades were winners, they see the setup as ‘good’; if they were losers, they see the same setup as ‘bad.’ some1 engulfings work great, another says engulfings are trash — all because of their last few outcomes.
“Acting like setups always work and trying to attach a ‘reason’ to every failed one is nonsense. Trying to explain why a setup didn’t work is pointless. The only thing that matters is whether the setup was valid and built according to the rules.
One losing example → trader changes the entire setup → System becomes a custom-made suit for the past, useless for the future.
Summary:
Curve Fitting Bias = forcing your strategy to fit past data so perfectly that it becomes worthless in live trading
3) Outcome Bias
Judging the quality of a setup only by the result, even if the setup was correct.
Trade example:
Setup is textbook → it still hits stop → trader says “the setup was bad.”
But the setup was fine; probability just didn’t favor it this time
2) Confirmation Bias
Only looking at charts that support your belief and ignoring the rest.
Trade example:
A trader is locked into a bullish idea → only shows bullish setups that worked, ignores bearish ones.
Then thinks the setup “always works.”
Be patient and disciplined.
Trading constantly requires patience, and unfortunately most people lack that — especially when money is involved.
Trying to double your account every week is nothing but luck, and attempting it only multiplies your risk.
Consistently making profit through trading takes time and effort, and there is no shortcut to becoming a good trader.
That’s why, after creating your trading plan, you need the patience to stick to your rules.
Don't practice until you get it right.
Practice until you can't get it wrong.
BE MORE DO MORE---Doğru yapana kadar değil, yanlış yapamayacak kadar çalış. be more do more
If you keep sprinting because you want to get rich fast, yes, you might win… but the odds are low. You’re free to try, of course — just don’t forget the math
- Casinos get rich with a 1–2% edge for the same reason.
- Most traders fail not because the edge is impossible, but because they don’t repeat it long enough.
in real life not easy but rich guys doing like this