Yesterday I have forgotten that trading is a long-term business. Hence the need to let off some steam. I entered a trade and it went against me. Burned my fingers and closed the trade. I entered a second trade and it went against me. Burned my fingers and closed the trade. I entered a third trade and it went my way. After very minute wiggle I scrambled to close the trade, barely positive. Why? When I saw that small wiggle I remembered my previous two trades and tried to avoid having my fingers burned again. I read somewhere that fish remembers only the last 6 seconds of it life, i.e. its memory is too small to store any more data. Well, that was me yesterday⦠So, I am sitting here, looking at my image in the mirror and chanting: âI am not a fishâ¦just an ordinary moronâ. Lol. The problem is that I am going to forget yesterdayâs experience next week or next month. What does that make me? Fishy moron?!
This type of trading makes you...just another average, undiciplined trader. Part of the 80% watching their money float away.