Rejections spur me for greatness!!!
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Cable Update - Continued 102 replies
Cable (GBPUSD) vs Euro (EURUSD) 31 replies
Cable Update (GBP/USD) without Idiots 23 replies
Why is GBPUSD called cable? 66 replies
cable short for gbpusd? 6 replies
Disliked{quote} Hello Pat, I have been monitoring your calls and trades, they have been superb. Please keep up the good work and don't ever walk away from this thread. I can say without any doubt in my mind that you are one of the few best traders I have seen. Keep it up.Ignored
Disliked{quote} stay alive! don't drink and drive on public forum -- keep healty my friendIgnored
Disliked{quote} Never heard anyone saying those to me. The only person that told me last year was Waveskierrob. Which I doubt he's serious about that. Niway....... This is what I can contribute to others. Planting a seed. When I died, or Thanos click me out, the rest of your here will continue the work to help others coming after us. And keep on planting the seed for our future generation, you met in person or not. Thanks for the encouragement Best Regards PATIgnored
Disliked{quote} I haven't been here for a while and glad to see you're still here Pat and contributing to this thread. Your posts are pure gold!!Ignored
DislikedGU Follow the money. Now its time to get Seller excited as the lowe OB, there is more fresh supply above to be taken out. Waiting for LONG entry {image}Ignored
Disliked{quote} Normally I dedicate to posting my tradings and for whatever reason some member appears, almost always the same ones insulting and harassing what I post. I have my own opinion that I have already commented thousands of times and it turns out that when you have raised your account from $200 to $15,000 several times, the sector does not like you. I am a persecuted and they are more than me and it may seem that I am the troublemaker but if you read carefully how everything begins you will see. Mind you, you have been quite polite, i was expecting...Ignored
Disliked{quote} GU Lets continue taking out seller to the top. Follow the money {image}Ignored
DislikedFor the love off god - today has been agonising .. just hopeful 1.18 remains unbroken and our friend Andrew says something £ positive .. something like, “rights chaps I’ve had a word with Russia, the wars off - he’s agreed to cut petrol and start supplying again and everyone gets a tax break for the inconvenience”. Is it too much to ask??Ignored
When a situation involves incentives people may reduce dissonance by changing the dissonant condition (usually when the incentive is small) or by adding a consonant cognition (usually when the incentive is large)
Changing the way you think and feel about a dissonant situation that involves incentives is very dangerous when trading. The justification of risk is a serious matter and should be detailed in your trading plan, one of it’s major purposes, otherwise cognitive dissonance will influence you to make stupid decisions.
Invest time and effort to understand how the trading environment creates cognitive dissonance and provide simple and immediate mechanisms in your trading plan to alleviate the dissonance. Clear objectives, rules and mechanisms that are helpful and constructive and do not incentivize risk when it is not smart to do so. When justifying risks, use minimum compensation for doing so rather than increasing risk disproportionately. Know exactly what would contradict or otherwise invalidate your trade and either do not take the trade or cut it short.
When the market is moving against your position do not justify ridiculous behaviour such as moving or removing the stop loss believing you will eventually be compensated, and that justifies the risk. Or worse, adding to the negative position. Similarly, a trader with an ambitious profit target might justify holding a profitable position for too long; instead of realising profits when the market runs out of momentum, they reduce the importance of this dissonance and perhaps increase the importance of consonant conditions -they may even lose money. It is essential to have clear targets and exit rules too.
In general, trading should feel comfortable, which is a result of consonance between your trading plan, market conditions, and actual behaviour.
Cut losses short, let profits run
Disliked{quote} yap, i wonder how bulls not quiet as well.. i read today more long than short post.Ignored
Disliked{quote} Lost that one with the 1H BO of >3030(-39), now finally selling again Sold 3112.Ignored