thank you so much for that. it’s was really reassuring that others have gone thru what i’m going thru
Before you enter any trade, you should already know 3 things: Entry price Exit price Stop price Once you know all three in advance, there's nothing to be scared of. Well, unless you keep getting stopped out. Then obviously your entry (price or time, or both) is outta whack.
Confidence can ONLY be achieved when your mind is centered. Once you have negative emotions, your confidence will be broken.
agreed but let's add to that also knowing in advance "recovery from drawdown" how you gonna get your money back and how long will it take? once you know that how could you not have confidence.
Good Morning MarkBrown, This is the only thing that I focus on in my trading. I do not spend time on anything else related to day trading.
%% Good add, dont have to wear a suit=may help Simple reading + math helps . Like Larry Mint Hite noted \a cheap buggy whip co[-$5] may get cheaper, want o buy that. ?? LOL NOT me, on buyin' that. Schizo or his wife had a good read, a trade loss hits the same part of your brain as a life threat.
I understand that feeling. I often remind myself that even the most successful traders face moments of doubt. It's about managing those emotions and sticking to my plan.
%% Good .Good plans[before + after market] include what could go wrong + what could go right...... I felt curious today, would i have to exit some QLD if it did not do what i planned .Yes + yes. Would I get the my entry price on inverse ETF, well close enough, its NOT just one price anyway LOL Practice doing things you dont want to do, but good to do anyway; park not close to WMT entrance/ even though most do so, they dont have to walk more steps than needed LOL Like Dr Van Tharp noted, champ shooters do plenty of practice MY banker dad enjoyed his work but some times told me ''I dont feel like going to work, so what, son, I go to work anyway '' ..............
I'm actually the opposite, when I enter my no feel zone is when I know that a trade will most likely workout, because I wouldn't have cared if it didn't
It's entirely natural to feel a mix of emotions before placing a trade, and doubt is a common feeling among traders. However, I always make sure that I feel confident (not overconfident) whenever I open a position. This is supported by a solid reason to enter a trade and backtesting.