React don’t Predict?!
But,But,but you always make predictions on stock what do you mean?
You see I’m just reacting, Have set rules and follow them. In other words
“EXECUTION”
Why would you risk too much money by trading a large amount compared to what you have or how much you can handle losing?
Wouldn't you only do that if you were absolutely sure you would win?
But if you truly believed that wins and losses were random and unpredictable, could you feel betrayed by the market?
Think about flipping a coin and guessing right.
You wouldn't expect to keep guessing right just because you were right before.
There is a point where the chances of success become very low compared to the potential profit.
When that happens, it's not worth spending more money to see if the trade will work.
If the market reaches that point, I will exit the trade without any doubt or conflict inside me.
Losing money doesn't make me feel bad because I don't see it as a negative thing.
For me, losses are just part of doing business or the money I need to spend to have the opportunity for winning trades.
On the other hand, if the trade turns out to be a winner, most of the time I know when I'm going to take my profits. (If I'm not completely sure, I usually have a good idea.)
The best traders focus on the present moment and don't feel stressed.
There's no stress because the only thing at risk is the money I’m willing to spend on a trade.
I’m not trying to prove anything or avoid being wrong.
When the market shows me that my strategies aren't working or it's time to take profits, I accept that information without resisting it.
I completely accept what the market is offering and patiently wait for the next opportunity
As traders, we need to be careful not to believe that we know exactly what will happen in the market. We can have a good understanding of what a winning strategy looks like and how much risk we're willing to take to see if it works.
We can also have a plan for when to take profits if a trade goes well. But that's where our knowledge should stop. If we start thinking we know what the market will do, we're in trouble. All it takes is a belief, memory, or attitude to make us interpret market movements or information in a way that's not helpful.
Instead, we should see every movement in the market as an opportunity to make decisions that benefit us. It's important not to let our thoughts or assumptions about the market get in the way of making smart choices.
-mr sicko Trading - Tanas Stephen
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I try to get the 101 course and get the message “ This product is not currently for sale”
Why?