Trading can be a right headfuck, but once you got your stratagy then the next thing you need to do is to never cancel an order that you have previously set, and to trust yourself that your initial
instinct and planning was correct, even when it doesn't happen in the time line you had expected it to happen- stick to your guns.
After someone has been doing it for a few years, you become good enough to actually make money instead of being totally irrational and make dum trades by panicing, always selling low and then thinking its going on a mad spike and you buy at the top. Once you realise that in the start when your fresh to trading, your mind will just become a total mess and be totally irrational, after a while you notice it and can ignore it.
How many to times until I get it though?
There has to be a point in trading where the persons skill of predicting price levels and corrections becomes to pinpoint accuracy 90 % of the time, but the mind is still in monkey land. Then the person has to really trust that they have everything correct and to stick with that plan and to completely ignore that Doubting Voice in the head. Do I need notes placed around to remind my mind that I'm right with trading and to have postit notes stuck around the room with positive affirmations?
How long could this last, this double doubting?
It happens to me the most whilst shorting. In fact I'm terrible at making profits in a bull run, and can only seem to be profitable when a trade is bearish. This post is inspired by me waking up to see that the price of a coin had gone down again to the level I thought it would, but 2 days later. Just before I went to sleep last night, I thought "hmm that trade didn't happen, you were wrong, oh well, by in now take a little loss and check it tomorrow"
I woke up to monero having gone below 250usd, when a few days back I had an Internet outage at a crutial point which left me having sold at 25usd and unable to do anything - and when the Internet was sorted again, sat watching the nice spike it had the last days waiting for it to come back down again. I changed the initial plan, cancelled the order to rebuy from my technical failure of no Internet at 251usd because I doubted myself.
This must be by far the most silliest mistake traders are still making?!
So I missed the perfect buy in, and now would be the time where the mind says "Sell,take a loss now by in lower" but I know to ignore it. Best to wait until it tests the next whole round number (hope it will do that today buuuut,if it don't, I need to wait until it does!) and not panic 😂
I'm off out to get postit notes or I need a tattoo to look at to tell me not to cancel the order hahha
Have a nice day with huge profits!! Don't forget to take profits as you go aswell, something I haven't been doing since before Mexico. But now I guess it's a very nice way to earn even jsut 20 bucks a day and live in Mexico on easily
Help spread the word for the project I have started up in Mexico, the website is here Elcolectivo.life and today I need to finish off a presentation slide show as a taster.
Big love, @movingman