What’s Your Value?
Things have been hectic lately, particularly with this course and the connection issues I’ve had and posted about previously!
I hadn’t traded for a week until today, which is a long period for me. I’d been rather anxious having gone so long not touching the markets, worried I might have lost my touch.
It was quite the opposite at first. I’m not sure if I was drawing some confidence from the fact I have a faster connection than usual although I’m certain the connection wouldn’t of actually made much difference.
Now, I say ‘started’ because it went rather wrong later on. Had I not made 2 big mistakes, today’s labour would have produced me with a return just shy of £200. I made one mistake after a couple of hours being rather aggressive and overconfident. The second was daft as I see a big bet being dragged down the prices (easy money, right?). Once I jumped in front at £14 a tick it got swallowed up with a massive lay leaving me high and dry.. these things happen, although it was additional risk I didn’t need to take!
What About The Self-Worth?
So it’s quite obvious to say our beliefs and values drive us as individuals, leading us into making certain decisions that shape our situations. So is it possible that some of us don’t succeed because we don’t value ourselves enough? For me I feel this could be quite possible; when I’m in a trade, more often than not once the trade reaches £10+ profit I’m in a scramble to close out and keep it. Resisting the urge is a real struggle!
Why is this? These trades are often the best trades of the day when I’m on a good swing, they regularly continue after exiting.
I do wonder sometimes; why am I getting out?
Is it because conditions dictate, or is it because I value myself at £10 per race? Also, once I meet this target in a market I tend to take my foot off the gas, could my self-worth belief be restricting me? I think it’s quite possible. Do you find this happens to you? Even if it’s a different figure.
It’s an interesting topic I find myself pondering quite a lot. I know that on a logical level it makes no sense to exit a trade purely based on how much money I wanted to make, it’s the wrong reason. Over time it’s likely to see me miss out on plenty of profit. I think it’s something I need to work on a fair amount if I’m so pull as much profits from the market as possible. On the other hand, I don’t want to go too far and become greedy. Finding the balance is difficult.