MARKET EDGES THAT ARE USUALLY LEARNED FROM MISTAKES/EXPERIENCE OR FROM OTHERS PASTS
continued.
5. From trial and error, studying the past you will learn there is nothing really new in the market. Everything is a series of repeating patterns, formations, and set ups. They all just differ with the times, so don't have tunnel vision into the present only.
6. Beware living in the past. Always be in the present and you can see what's ahead. Living in the past whether mistakes, wins, or fears doesn't help you see the now.
7. Be cognizant of how your feel! If you feel cocky find humility. If you feel down refocus on what works. The key is balance. Letting the emotions of trading prop you up and down by the size of your account, how well a trade is doing/not, or anticipation of future gains can blind your judgement. Meditating and focusing on the rules can help a lot.
8. Always stay grounded. Once you think you've arrived you're actually heading backwards. The game is meant to trick us on all levels, to think we are bigger or smarter than the game is the first step to your own demise.
9. After a big win or loss be prepared to take a break. The emotions will be running high and could blind you to what's coming. Like a marathon runner finishing a race, our brains need a break. To think that we need to jump into a trade immediately is like trying to run back to back marathons. Dig into charts, find a good set up, and reload what you did to win the first time. Likely it wasn't from hasty trading or needing to win.
Next Post I will get into more nuts and bolts of swing trading.
continued.
5. From trial and error, studying the past you will learn there is nothing really new in the market. Everything is a series of repeating patterns, formations, and set ups. They all just differ with the times, so don't have tunnel vision into the present only.
6. Beware living in the past. Always be in the present and you can see what's ahead. Living in the past whether mistakes, wins, or fears doesn't help you see the now.
7. Be cognizant of how your feel! If you feel cocky find humility. If you feel down refocus on what works. The key is balance. Letting the emotions of trading prop you up and down by the size of your account, how well a trade is doing/not, or anticipation of future gains can blind your judgement. Meditating and focusing on the rules can help a lot.
8. Always stay grounded. Once you think you've arrived you're actually heading backwards. The game is meant to trick us on all levels, to think we are bigger or smarter than the game is the first step to your own demise.
9. After a big win or loss be prepared to take a break. The emotions will be running high and could blind you to what's coming. Like a marathon runner finishing a race, our brains need a break. To think that we need to jump into a trade immediately is like trying to run back to back marathons. Dig into charts, find a good set up, and reload what you did to win the first time. Likely it wasn't from hasty trading or needing to win.
Next Post I will get into more nuts and bolts of swing trading.