Feeling a bit emotional today while writing this piece of content. From my trading journal I kept updated for more than a decade... I want to share what differentiate a profitable trader from the crowd (losing money)
In trading, you are guaranteed to lose your time and money if one:
can't sit on his/her hands when there is nothing juicy to trade
plan trades he/she never execute and execute trades he/she never planned
let emotions from the last trade(s) affecting his/her next trade(s)
can't understand markets can remain illogical longer than he/she can remain solvent
end your trading day with his/her last trade... it must end when one has journalled them all and learned lessons
bury his/her head in the sand instead of studying the mistakes made
wants to forget previous mistakes... you have to remember them...writing them down on a post-it and having them staring at you whenever you take a trade. Great process to remind to not repeat the same mistakes.
doesn't add onto winners because doesn't know how to identify strong momentum... instead take profit too early
is confident when he/she should be fearful and vice-versa
treats trading like an entertainment and not a job
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