Speaking of poker, if you ever play online poker, you might run into players who get all excited when they are winning hands and might even trash talk, lol. If you look under the surface, that means winning or losing is determining their personality. They are stuck in the moment and not in the longer term "numbers" game. If you trade like that, where your ego is controlling your mood, then you could have a tendency to be stubborn when you are wrong and that can be costly. You have to just follow the bouncing ball, making yourself a manually controlled EA, and not let your emotional judgement influence you. Close the losers and don't "hope". Because so many people lose trades, it seems logical they will be betting against you a lot, lol. If enough of them do it, it will cause you to lose, so just close the trade and get out of the way. Let them do their thing, and reenter when the chaos is over. Try to use logic, not emotions. It is not a casino where once you place your money on the table you lose it all if you are wrong. Once you see you are wrong on a trade, take your money out of it. In order to do that, you have to develop something that shows you when you are going to lose. That is an exit plan. Anyone can enter, lol, but the 5-25% of winning traders know when to exit. Once you think you have a good entry plan, the exit plan is your next priority. After that, testing becomes your priority to be sure you are profitable in the "numbers" game. The "numbers" game is simply whether or not you make money over an "X" number of trades. While each trade is different, you can still create an average rate. This is vital for your confidence first, and your account second.
I hope I didn't ramble too much. It all seems logical, however, it is not easy. Good Luck.
I hope you have been well, I absolutely love that quote. I came to understand this year that it is just as easy to do something as it is not do do something, very similar to Napoleon Hill's quote. I know it sounds strange, but has worked for me to be more productive Thanks for sharing it as it adds further meaning for me. I am taking the same approach in my science.
All the best,
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