Stoic trading.
I bet stoics didn't trade, but they knew a lot about life in general. I suggest to cultivate stoic mindset in regards to trading, and negative expectation and negative visualization in particular. You can talk about it with ChatGPT and explore yourself, but here let me explain a bit.
So, instead of doing exactly what everyone else does - that is to expect your next trade to deliver big time, or to dream about a big runner, or huge profits in a day or a week, or to trade back all your recent losses with one overrisked entry - try to do something that's completely different. And by the way, that's a great overall approach to trading: find what doesn't work, and do the opposite (that's one of the main principles discussed widely by great Tom Dante).
To do this, when you come to the market, visualize and expect nothing🙀. Literally tell yourself this:
1️⃣..I showed up to the charts just to observe and analyze them (by the way, did you know that speculation, from latin "specio", means observation, with no judgement)
2️⃣..I expect my setup to NOT show up today, and so today I'm not expecting any trades to have
In case you'll find your setup, continue to keep the following negative mindset:
3️⃣..I followed my rules and entered a good setup, and I will follow my management rules, but right now I expect this trade to just end up as a loser
If you were able to protect at breakeven later, expect it to hit your breakeven and not your take profit.
For beginners, this all can sound stupid, even somewhat like a paradox🙄, but that's only because they don't understand how trading works. And trading really works in a way, that having LESS trades brings you MORE profit. Even if you're trading 1 sec. chart, and I'm not joking here.
This mindset practice I described above allows you to protect your emotional capital and also enter setups with a better quality. I will talk more about this and also why so called "overtrading" is actually pure gambling, and how it destroys people's accounts in the next post. Have a good day everyone, and keep the grind, even if there's no one to appreciate or believe in you!
P.S. I appreciate you and believe you will eventually do it and become consistent and profitable trader. 🙌
I bet stoics didn't trade, but they knew a lot about life in general. I suggest to cultivate stoic mindset in regards to trading, and negative expectation and negative visualization in particular. You can talk about it with ChatGPT and explore yourself, but here let me explain a bit.
So, instead of doing exactly what everyone else does - that is to expect your next trade to deliver big time, or to dream about a big runner, or huge profits in a day or a week, or to trade back all your recent losses with one overrisked entry - try to do something that's completely different. And by the way, that's a great overall approach to trading: find what doesn't work, and do the opposite (that's one of the main principles discussed widely by great Tom Dante).
To do this, when you come to the market, visualize and expect nothing🙀. Literally tell yourself this:
1️⃣..I showed up to the charts just to observe and analyze them (by the way, did you know that speculation, from latin "specio", means observation, with no judgement)
2️⃣..I expect my setup to NOT show up today, and so today I'm not expecting any trades to have
In case you'll find your setup, continue to keep the following negative mindset:
3️⃣..I followed my rules and entered a good setup, and I will follow my management rules, but right now I expect this trade to just end up as a loser
If you were able to protect at breakeven later, expect it to hit your breakeven and not your take profit.
For beginners, this all can sound stupid, even somewhat like a paradox🙄, but that's only because they don't understand how trading works. And trading really works in a way, that having LESS trades brings you MORE profit. Even if you're trading 1 sec. chart, and I'm not joking here.
This mindset practice I described above allows you to protect your emotional capital and also enter setups with a better quality. I will talk more about this and also why so called "overtrading" is actually pure gambling, and how it destroys people's accounts in the next post. Have a good day everyone, and keep the grind, even if there's no one to appreciate or believe in you!
P.S. I appreciate you and believe you will eventually do it and become consistent and profitable trader. 🙌
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