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Why is it that traders are often too scared to enter the "best trades" but jump into the worst possible trades with full confidence?
It is because they feel they don't have to take responsibility for a trade that they haven't thoughtfully planned. So when a trade like that goes against them, they “ditch” the responsibility for such a trade and say something like, “Whatever I didn't really care lol.”
But when they do the hard work of analyzing and taking time to find a good trade, suddenly they're afraid to enter. Not because of the volatility, risks and other dynamics of the trade, but because they know that they have to take responsibility for such a trade when it goes against them and admit that they were wrong and made a mistake.
And the idea of admitting they were wrong is often scarier for traders than losing money.
Don’t drink and trade.
Alcohol and trading equal a recipe for disaster.
Even one drink can blur your analysis and trigger emotional trades.
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Note to my future self:
Your trading plan is your map.
Never disrespect your plan by not following it.
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The choice is always yours.
Stay comfortable and unhappy
or
step out of your comfort zone for a while and pursue your dreams.
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Complexity in trading often leads to procrastination.
You become overly stressed about things that do not require so much of your attention, while simultaneously ignoring those that actually do.
Keep your trading simple.
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Traders often over complicate their trading with information and data, believing that this will improve their results.
However, the answers are not always in the charts. They lie within you.
Focus more on discipline and psychology, and your strategy will "miraculously" improve.
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Want to trade with laser focus?
Sports train discipline and resilience which is key for sticking to your trading plan.
A quick workout can reset your mindset.
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The more you focus on making it all back, the more you will give back.
Accept the loss and focus on the next trade.
You can't force the market.
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Put your money where your mouth is.
If you've tested something that you know works based on your data, just pull the trigger.
Don’t talk about it, don’t think about it too long, do it.
Just don’t forget to manage the risks.
Remain calm and focused.
Observe more, and trade based on what the price and the markets are telling you.
Not on what you want to believe.
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Good traders master risk management.
They protect their capital with stop-losses and smart sizing.
Safety first, profits second.
That’s the golden rule in trading.
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Most people don’t need to change their strategy.
They need to master their patience and psychology.
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You’re asking for losses if you trade on no sleep.
Rest keeps your emotions in check and your strategy on point.
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Money is a byproduct of your execution and discipline.
The more you focus on money, the less money you make.
That's the irony of trading.


