Learning to read and understand the chart landscape and understand my preferred setups position in the larger trend. Trading with the trend and not against it. When I realized the significance of watching the Dow, S&P and the Nasdaq Composites I really felt I started to understand the bigger picture. Having the patience to stand aside and not trade when there is no trade. Learning not to make a setup into something it's not. If it doesn't look right after a quick visual observation then it's probably not a good trade. Of course, multiple timeframes. Realizing that even though I am developing an edge, I have a lot to learn.
Definitely. The elimination of fear and greed is a mistake. They are both natural emotions. It is what values hierarchy these emotions are hooked to that screws traders up. It's essential to fear losing trades, and act to get out; be greedy about the wins, and let them ride. That was my breakthrough. Letting the emotions in me play out appropriately by not hoping (being greedy) that a loser would eventually turn into a winner; and not worrying (being fearful) that a winning trade would soon turn against "me." I fear / hate losing. I am greedy for / love the winners. That alignment works for me.
I have had a few but I know that there are many more to be made. My most recent breakthroughs that I feel have really helped is learning to scale into a position at pre-planned locations and beaing able to recognize when I am trading just to trade instead of sticking to my strategy and then stop trading for a while to recollect my self.
Once I'm in a position, I set a hard stop. The word on the street says not to set a hard stop because it will be picked off. I think that's paranoia. My 200-1000 shares will make no difference in the long run of a liquid stock. And that's the bottom line, cause Stone Cold Says So!
My biggest breakthrough was when I realized that any idiot can make money trading and i am King of the idiots.The key is to always be an idiot.
Realising that my beliefs control my thoughts, words and actions. And that I could change them. That is my secret to life too!
my main breakthrough was a hot air balooning accident that I was involved in. It freed me mentally, and although I lost both arms,give me a steely determination not to be second best. I now trade happily at home with my tongue. Yours Dextrous Trader
This goes against everything I have ever thought or implemented. Seems like you are rationalizing a bad trade thinking it will come back so just keep averaging down. Sure, you will be right every now and then, but in the long run it seems you will get killed. Sorry, but this just sounds bad.