@wannabechamp I should feel better about being right in predicting the right kind of behavior a trader should exhibit in the market than feeling good because I made the right market prediction.
Morning Quote:
I should feel better about being right in predicting the right kind of behavior a trader should exhibit in the market than feeling good because I made the right market prediction.
@Investor_E0@probernard_02@Vix_Mayor From my perspective, nothing went wrong, it's just a loss. Not all losses will go straight to SL, some losses will go very close to TP and reverse and hit SL, some profitable trade will go close to SL and then reverse and hit TP.....we have to take into account these scenarios.
For the other, you trade your peace and control and get nothing in return.
A trade hitting TP doesn't in any way prove you have a good strategy. Also, a losing trade doesn't in any way prove that you don't have a good strategy.
The goal is to try and execute your trading strategy flawlessly, not trying to flawlessly catch a winning trade.
One, you learn more about yourself, feel fulfilled, become more aware and also in control of your behaviors.
@MudiTheInvestor Fear is what I feel when I am trying to act based on speculations of what is not within my control thinking I can or should have known what to do rather than just following my execution plan
It's the same as assuming I know what's going to happen next on a trade and then I FOMO
The real job isn’t just finding a good strategy, it’s choosing which compromises one can live with and mastering the behavior to execute it consistently.
Losing with a particular strategy does not equal not being able to predict market direction.
The goal is not to develop a strategy that predicts the market’s next move in the first place.
Dealing with the Mind in Trading: FOMO
Trading psychology is not a one-size-fits-all solution. What works for one trader may not work for another, because each of us acts based on unique reasons, experiences, and beliefs.
Ultimately, every trader must put in the work to understand why they act the way they do. Without that effort, the cycle repeats itself or worse, the trader quits.