So this is not the first time I hear the importance of positive self talk and forgiveness. What I am confused about is this - shouldn't there be consequences for breaking rules? If so, how harsh? What is the appropriate "punishment" if this keeps happening? P.S. This lady is a sponsor here, so let's be civil.
The consequences for not following your plan are the same consequences that happen when you play the Russian roulette. No need to beat yourself up. The market is going to humble you.
Not necessarily. Often market rewards bad behavior. Many times I choose not to take a stop and work myself out of the trade at break even or better. While consciously I blame myself for breaking rules, subconsciously I pat myself on the back!
Often is 5 in 6. Exactly what I’ve said. Thank you. EDIT: I don’t think the market rewards bad behavior. If it does so it’s only to feed the turkey within you.
Since "this lady" is me, I think I will respond!! I work with many traders to turn their trading around. I have come to see that kind self talk works well! Abusive self talk doesn't. It just leaves us abused! In fact, I believe this is the most important element to successful trading. If your spouse was mean to you and put you down, it wouldn't help you improve what you were doing. It would probably just hurt you or anger you and make you less stable. It doesn't mean you condone "bad behavior" but it does let you see your behavior from a more neutral point of view if you are not bashing yourself. The more clearly you can see yourself, the more choice you have in how you react.
Andrea, yes I got that from the video, but that doesn't answer my questions. Should there be consequences for breaking the rules? If not, how do you stop the behavior?