For a day trader, how many trades a week is overtrading?
I consider this personal. Every trader has his own statistics… with over trading I personally mean when you open many operations together or in a short time, whether because you think you are right or to recover, etc.
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Good point.
Overtrading can definitely be personal.
It’s easy to slip into taking extra trades, especially if you’re trying to recover losses.
Staying disciplined is the key, quality over quantity.
As gioppy said, is very personal and subjective. However, overtrading for day traders should definitely be calculated from trades per day, and trades per week should simply be a simple maths resulting from the sum of them. In other words, you, as daytrader, overtrade per day, not per week.
For me, for example. More than 10 trades / week is too much, as I aim for no more than 2 per day.
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It doesn’t matter. You should take every trade, that your playbook is telling to take. Nothing more or less. Then you have solved the issue with overtrading.
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Exactly, is what Mark Douglas always says about FOMO and overtrading and even undertrading (not taking the trades out of fear of outcome). He said: shoot the gun every time you see your setup. No matter if it’s 6 times a day or once a week. If it shows, and you are there to see it, shoot. And whether it goes against or in favor, your rules should protect you and guide you, but you shoot either way.
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