Don't fight the gambling urges; ride with them, manage them.
You do not stop a fast moving ball by standing in its way. You take the momentum out of it by moving with it in the direction it's going.
When the urge to take a trade comes up, respect it and take it on board. Make it go through a pre-defined checklist and rank the trade idea.
Is it a tier 1 or tier 2 or tier 5 trade?
Alright, now you know how much size you can risk.
Now put on 1/5 of the size.
And nothing more until it shows that it works.
Exit swiftly when it doesn't. Feel free to try again.
When your trades are ranked, and your risk is defined and you scale in and out appropriately based on market structure, there is nothing you cannot bet on.
Trading is supposed to be fun.
You do not stop a fast moving ball by standing in its way. You take the momentum out of it by moving with it in the direction it's going.
When the urge to take a trade comes up, respect it and take it on board. Make it go through a pre-defined checklist and rank the trade idea.
Is it a tier 1 or tier 2 or tier 5 trade?
Alright, now you know how much size you can risk.
Now put on 1/5 of the size.
And nothing more until it shows that it works.
Exit swiftly when it doesn't. Feel free to try again.
When your trades are ranked, and your risk is defined and you scale in and out appropriately based on market structure, there is nothing you cannot bet on.
Trading is supposed to be fun.
Build good relationships with others.