💥 Am I the only who at some point while trading hoped for price to move in my direction or bias or rather open a position with mere hope and faith ❓... Certainly not. At one point or the other you must have done this and possibly still struggling with it.
💥Truth is, the market will always do whatever it wants regardless of your strong hold, hope or faith in your bias.
What then do I do ❓
1. Take trades that you've planned. Do not just wake up, get into the market and start executing trades without proper analysis. Take trades with predetermined entry, stop-loss and take profit level.
2. Be quick to admit that you're wrong when the market chooses to go against your bias. Stop adjusting your stop-loss when in a losing position. It will enable you cut the losses early.
3. Avoid trading based on emotions. It is easier said than done. But with practice you will get better at it. Be logical and see things as they are.
🔥 I HOPE this helps.
Sage Trader's Nugget
💥Truth is, the market will always do whatever it wants regardless of your strong hold, hope or faith in your bias.
What then do I do ❓
1. Take trades that you've planned. Do not just wake up, get into the market and start executing trades without proper analysis. Take trades with predetermined entry, stop-loss and take profit level.
2. Be quick to admit that you're wrong when the market chooses to go against your bias. Stop adjusting your stop-loss when in a losing position. It will enable you cut the losses early.
3. Avoid trading based on emotions. It is easier said than done. But with practice you will get better at it. Be logical and see things as they are.
🔥 I HOPE this helps.
Sage Trader's Nugget