A Trader’s Mindset Friday’s thoughts
When life hands you lemons why not make a Lemonade?
Today is the perfect day to discuss how emotions can get the best of us.
Last night when I closed my trading day I had an absolute convection that today will be a pullback day in the market, waking up to a big 700+ points market rally proved me absolutely wrong now that absolutely fine I have always learned to manage my risk & have developed absolute convection in the process reminding my self I need to stay focused on my plan, opportunities come and go only consistency last in trading and its always the balance that we get to keep, glancing fast in pre-market trying to get a feel of the market sentiment I spotted some social media accounts rallying on how this going to be amazing gains, for a second It felt like I was the only one on the dancing floor with bare foot & no dancing shoes.
Reflecting on my earlier trading habits a day like today would have completely frozen my thinking and FOMO “fear of missing out” would have kicked in making me take bad decisions by chasing wrong momentum tickers that already appreciated and or I would have been staring at the screen feeling sorry for missing out and what gains I could have made if ONLY! Luckily today following all trials and errors I have the absolute mindset to think in probabilities it’s hard #Emotion’s do get the best of us even when you think you are above it all. However when it comes to trading timing is everything, I said to myself lets go make that lemonade I had already had my homework prepared glancing fast on list of tickers that they were of interesting setup’s I realized that few have not joined the early market rally I was quick to pick few managed my risk and a few hours later I had few successful trades, while other traders were satisfied with their early market gains parading with their profits I made sure to join the dance floor and have just as much fun and as result, at the end of the trading day I made more profits than I had originally anticipated.
The key was to stay focused and as a result, this made me feel satisfied that I did manage to get my share of the pie through convection in the process.
Your Mindset is what determines your success and not lotto opportunities remember no one could have anticipated today’s early rally maybe few did and that not the point what’s more important to keep reminding yourself that opportunities are everywhere so always stay vigilant & focused be mentally fit to think in probabilities find your pace rinse & repeat the process.
I hope you enjoyed today’s article and found It helpful.
Stay tuned for “A Trader’s Mindset Weekend Thoughts”
Have a good evening.
Yours truly,
Trade’s Mindset
