Managing a Bad Position…
Lack of posts this week as I’ve been pretty busy working though new angles and information looking for anything particularly significant.
After reading through a lot of forum posts by other traders, it reminded me of something. I’ve been pretty obsessive about in the past, all be it some time ago – Mindset, mentality, knowing yourself, awareness, whatever you want to call it. It’s big news and often very under-rated.
So I purposely put this clip together. I think it highlights the preferable approach pretty well…
If you can learn to manage your position well in the market the majority of the time it will have a profound impact on how you ‘feel’. As you may already be aware, often has a positive impact on results!
This concept was one of the biggest turning points for me. If you read back through older posts on the blog (several years ago especially). It may be something I take for granted now. Although quite frankly, it never gets old.
By keeping doing this again and again. You might find several instances where you didn’t win quite as much as you could have, although overall on the day you lose far less. More importantly, you start to believe in your decision-making! It’s a bit of a fixed loop cycle if you like, all be it with positive results instead of negative – much like you may have experienced if you’ve had a bad days trading! Embrace it and it’ll help!!