ScottBogatin

How to deal with lost opportunity ( Bitcoin etc)

NASDAQ:ENPH   Enphase Energy, Inc.
12.28.20 I did not say this on the video, but I should have since I believe my human behavior is similar to your human behavior... at least somewhat. When I started trading in the 1980s I was having a difficult time making money in the markets. If the market moved higher and I missed the trade, this bothered me. And then there were trades that I would take and I would lose money. My frame of mind was that I had to take trades so that I wouldn't miss the good opportunity, and my dilemma was I never felt that great about many of the trades that I took... especially after I lost money on those trades. In other words I thought like a losing trader. If you think like this there is no tool or no strategy that will work out well for you because this type of thinking is highly likely to be catastrophic for your trading. My belief now is that I don't have to take a trade that I don't feel comfortable with using my tools, and I know to my core that if I wait for the higher probability trades based on the way that I use my tools, I will make plenty of money in the markets. Missed opportunity does not make you poor, but losing trades can make you poor. For people who constantly lose because they don't have a good sense about the market, there can be this drive to not miss good traits and this can lead to impulsive trading when the market is not clear and the trader is not clear. It's almost as if there is a desperation to trade because of this feeling that there won't be another good trade and that you'll miss it. It's a disastrous way to think. You cannot control the market, but you can wait for the higher probability trades and if it takes a little time before you spot a good trade that should be okay for you.
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