chrispi

[Premier Trading League @JoinPTL]

It seems like @Avvake is having a stressful game...

[RajaBanks @RajaBanks]

How to have a strong Psychology in trading !!

https://t.co/VdC5W99FuV

[Chris Dunn @ChrisDunnTV]

One of the most important skills a trader or investor can develop is:

Removing your own price and timing anchors.

Basically, the market doesn't give a damn what price you bought something and how early or late you did it.

A "cheap" price for everyone else might seem expensive to you...

And what's "early" for everyone else might seem late for you because you've been diving into the idea for months/years.

Step outside of your own positions, time in the market, and goals...

And think about:
1) who's already in with you
2) who's NOT in... yet
3) when are prices and sentiment hitting peak fear or greed
4) what could drive euphoria or despair beyond what seems rational to you
5) when do people start to feel apathy and boredom

If you're early to a trend, it can be easy to underestimate how long it's going to take for everyone else to "catch on".

Boredom can lead to over-managing trades. Impatience can lead to getting distracted by lower probability plays.

Instead, focus on:
1) Finding ideas with massive potential early
2) Make a meaningful bet
3) Accumulate assets
4) Sit on your hands
5) Don't over-think it