Psychology of trading..
If it gaps down next open past my exit point (Iikely), I'm out.
It's gonna suck, I might even get the ATL. I try not to mind, because the R I put in it isn't going to ruin my account. If it sets up again then I'll buy it again.
Cop it on the chin and move on, these things happen from time to time, and 'hey there's a bulll market coming'.
Look at Friday, study the tell. Knowledge of index? Knowledge about CR? Doesn't matter, the price told the action, I should have listened. Recalibrate and try not to let it creep up on me again like that. Try and try as I might until it becomes muscle memory. Tuitition here isn't cheap.
Keep grinding til I make it to my goal, don't ever blow up my account. Constantly seek to deepen understanding of Risk:Reward, implement and calibrate it based off market conditions and prior results.
That's my psychology as a trader. Invest energy to logic, not emotion. Emotion is much more rewarding when spent freely and liberally on loved ones. I've found it deiblitating and counterproductive to invest emotion into results.
Fundamentally understand and grapple with the idea that a lack of discipline will almost certainly sink you in the long run.
Many ways to play this magnificent game. I agree with Tom Basso when he says 'all investors are traders'. YMMV, enjoy.
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Open | High | Low | Value | Volume |
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---|---|---|
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5 | 72712 | 0.965 |
9 | 134156 | 0.960 |
4 | 43363 | 0.955 |
11 | 224934 | 0.950 |
Price($) | Vol. | No. |
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0.990 | 33914 | 1 |
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