Old School and Odqnut, I have copied, pasted and printed your replies. For myself (and hopefully, for Bonpara) this is so simple and obvious, yet brilliant. Why has this not been mentioned in all the books Iâve read? Your total posts demonstrate an old saying (of which Iâve always believed): quality, not quantity. This has got be worth at least a 50% net improvement, if not more. How many more books would one have to read to achieve the same? Excellent stuff, Gentleman. Thank you. Grant.
Ok. Now pay attention to one thing. How do you feel towards the stock after that first bad trade? Since you enter a series a bad trades, you probably feel angry, or frustrated. When that happens to me I have a few tricks to avoid the series of bad trades that follow. 1. Listen to some music, preferably something calm like classical or jazz. 2. Stop. Close your eyes, remember that you've been having a lot of fun regardless of the fact that you just lost some money. and keep your eyes close until the anger is gone and you're ready to have fun again. 3. If all the above doesnt help. Change the symbol, forgett the stock. Trade it again tomorrow. Those three steps have helped me quite a lot. Another thing that really helped me was going to the Journal forum and starting one. Write in it every day right after exiting the market, don't post pictures or anything like that, since you're not writing for others, you are writing for yourself, to learn from your mistakes on your bad days and from your strengths on your good days; no need for bragging. And one last thing. Above all things remember to have fun, enjoy what you're doing and learn as much as you can. Once you figure this one out, money becomes secondary.
Wow man seems so simple but makes so much scence. Ive just printed off the page and im going to hang it up at work on monday. Thanks