Allow me to spit some truth into my younger self... I actually think the biggest mistake I made early on was spending way too much time thinking about how much money I "could" make on a trade and almost no time thinking about how much I was willing to lose.
I remember sitting there mapping out upside targets, imagining the perfect trade in my head, calculating what my account would look like if the stock doubled... yet I barely gave 5 seconds of thought to what I'd do if I was wrong.
And looking back, that's such a backwards way to approach this business.
The market isn't obligated to me. The only thing I have complete control over is my DOWNSIDE, and once that finally clicked in my stubborn lil brain, my trading started changing in ways I never expected.
Now, when I open a chart, my first question isn't, "How high can this go?" It's, "Where am I wrong?" and if I can't answer that question immediately, I usually don't have a trade. That's 1 of the reasons I love buying pullbacks into the 9/21EMAs, undercuts and reclaims, and 15/30-minute pivots off areas of interest. It's because they allow me to define my risk before I ever click the buy button. If buyers don't defend the area the way I expected, I want to know quickly so I can move on to the next!
1 thing I don't think people realize is that a huge percentage of my trades DON'T work on the first try.
Sometimes it'll take 2 or 3 breakeven trades and/or small losses on the exact same stock before it finally moves in my favor.
And I'm completely okay with that.
But... why am I okay with that?
Because each loss is SMALL ENOUGH that it doesn't change the way I think.
I don't suddenly feel pressure to make my money back or start revenge trading. I don't begin forcing setups that aren't there, because I simply wait for the next opportunity, because the thesis is still intact... even if my timing wasn't.
That's why I NEVER obsess over profit targets.
The market is going to decide how far a winner goes. I have 0 control over that.
What I do have control over is making sure 1 bad trade never ruins my week, my month, or my internal confidence.
I think that's the part of trading nobody really wants to talk about because it's not exciting. Posting a +300% winner gets attention. Posting a disciplined -5% loss doesn't. But if you looked through my journal, you'd probably notice that my biggest winners weren't what built my account.
My small losses DID.
They gave me the opportunity to still be there when $ARM showed up. They allowed me to stay aggressive when $MU started working + they gave me the confidence to press names like $INTC because I wasn't digging myself out of a hole from oversized losses.
The funny thing is, once I stopped chasing huge winners and became obsessed with protecting my downside, the huge winners started taking care of themselves.
That's why I genuinely believe drawdown control is 1 of the greatest competitive advantages a trader can have. Not because it's fun or gets attention... but because every dollar you don't lose today is another dollar that's ready to compound when the next great opportunity comes along.
The market will always give you another opportunity!
The question is whether you'll still have the capital (and the confidence) to take it.
Happy 4th & God bless!
When taxation is the only thing govt cares for
Results are self explanatory
India vs global mkts for last 2 years
Looks like so called "Shock Absorbers" need a special shock treatment
Japan,Korea, Taiwan are up between 100-200% over the last 1 year
Nasdaq up 38%
Dow up 26%
DAX almost nearing life highs
All we do is:
Keep taxing middle class every year and burden them
Increasing taxation on equity markets and make sure FIis run out of India
Give freebies to the ones who don't want to work
Periodically, do farm loan waivers for the ones who never pay tax
On top of it, govt is doing OFS in such kind of mkt 🙏🙏
Bookmark this anti-FOMO manifesto that I'm giving you for free & read it every morning till the last trading day of your life.
⦿ I have made peace with the fact that I have neither the capacity nor the need to capture every upmove in the market.
⦿ I like to trade only proper constructive setups, & not enter here-&-there in the name of what kind of structures are trending currently.
⦿ If the stock goes up without giving me a tradable setup, let it go; it was never mine in the first place.
⦿ I will allow myself to feel FOMO only when I actually miss a setup that met my tradability criteria, either due to a deficiency in my scanning or in my execution. The result is immaterial. Even if the stock had later hit my stoploss, and it was a setup worth trading (under appropriate market conditions), it was a miss on my part.
⦿ I don't care what this world thinks about me, because I don't think anything about it. I judge myself not by the quantum of money I earned, but whether my approach was process-driven or not.
Don't pack your bags & jump to India.
First stay here for 2 years & decide.
Coming for 2 weeks vacation is different & living routine life is different.
Watch this video by @Ashneer_Grover. Tax is competitive to the US, benefits competitive to Bangladesh. Temperature is 46.