Hello, today I decided to make just an informational post for you.
If you want to become a successful trader in the market one day, you must first accept the fact that the price of any instrument can make any movement, throughout my career as a trader, I have met different people and the ones that never cease to amaze me are those who define one direction and explicitly stands behind it. Such people can even insult you that you are a fool if you think that the market will go in the opposite direction of their analysis.
To start being consistently profitable in the markets you have to be willing to accept the fact that you can be wrong. As I remember my beginnings, I was no different. If my price hit SL, I started to blame those who decided to go against me, that it makes no sense to sell there or, on the contrary, buy. Fortunately, a very long time has passed since then and now I look at the market with the possibility to focus on both directions and I try to trade the one that has a higher probability for me. Of course, the fact that it has a higher probability still does not guarantee that the price will go in that direction!
That's why today when I look at BTC, for example, I determine the potential reversal zones where it can occur and then I focus on whether it will give me an opportunity or not. I am not focused on only one direction, but on several at once. In this way, the market can never "surprise" me again. This, in my opinion, is the rarest thing that can turn a failed trader into a successful one. Once you are mentally aligned with what is happening in the market, you are better able to focus and aim in the right direction, and if your Money Management can still insulate you against a possible market turn, so much the better.
Good luck and put your ego aside, if you can do that, you can be honest with yourself.
If you want to become a successful trader in the market one day, you must first accept the fact that the price of any instrument can make any movement, throughout my career as a trader, I have met different people and the ones that never cease to amaze me are those who define one direction and explicitly stands behind it. Such people can even insult you that you are a fool if you think that the market will go in the opposite direction of their analysis.
To start being consistently profitable in the markets you have to be willing to accept the fact that you can be wrong. As I remember my beginnings, I was no different. If my price hit SL, I started to blame those who decided to go against me, that it makes no sense to sell there or, on the contrary, buy. Fortunately, a very long time has passed since then and now I look at the market with the possibility to focus on both directions and I try to trade the one that has a higher probability for me. Of course, the fact that it has a higher probability still does not guarantee that the price will go in that direction!
That's why today when I look at BTC, for example, I determine the potential reversal zones where it can occur and then I focus on whether it will give me an opportunity or not. I am not focused on only one direction, but on several at once. In this way, the market can never "surprise" me again. This, in my opinion, is the rarest thing that can turn a failed trader into a successful one. Once you are mentally aligned with what is happening in the market, you are better able to focus and aim in the right direction, and if your Money Management can still insulate you against a possible market turn, so much the better.
Good luck and put your ego aside, if you can do that, you can be honest with yourself.
