I like to use Twitter as a medium to think out loud on trading, or life in general. I write in all good faith, to share some insights and hard-learned lessons.
We get tons of training in thinking and problem solving, but we rarely if ever get any training in awareness. Yet, awareness is often the prelude to any solution to our inability to be and stay consistent in trading.
We all want certainty in our lives. It is a wonderful thing to have order to our lives, to know what to expect, and to feel safe, but as traders, it is not always easy to get those things.
The market likes to throw chaos our way. Uncertainty is in its nature.
While a statistically tested strategy and an efficient money management technique are essential, the right mindset is what glues everything together.
There are many reasons why traders have a hard time being (and staying) profitable. I’ve explored many of those reasons in depth on this blog. But as of yet, I haven’t talked about our default mode of measuring and comparing ourselves (and our lives) to others.
The other day, I was mentioning (to an otherwise smart and informed guy) that I really believe that trading psychology is the most important aspect of trading.
“When should I quit trading for good?”
If you’re a struggling trader, I’m sure this question has been in the periphery of your mind at some point.
We all know that working on our trading mindset will make us better traders, but where to start?
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