Trade Like A Robot
Many traders tend to lose big instead of winning small because we get caught up in the emotions associated with the trades. We stare at the P/L percent, and watch the dollar amounts very carefully. Though we entered the trade with a plan, now that we are in, we are considering making the plan a bit more flexible to suit our new needs.
Pack It Up
Don’t shoot the messenger. The message is much needed. Also, this is coming from a place of compassion and empathy. Pack it up, b.
Never Look Back
Contrary to what popular songs of today might say, where they encourage you to look back at it, NEVER look back at trades you sold out of. Well, at least until a little later where emotions simmer down, and it will not mentally mess you up.
Revenge Trading
“The actual charts and trading are the easy part. The mental and emotion part that’s tied to options trading — that’s the hard part.” This is a line I constantly try to keep in the forefront of my mind, especially when things just seem to not go my way.