Here is an except from last nights Trade Ideas:
“With so many mixed signals I know my emotions well enough at this point and they are confused. That ALWAYS means to avoid the market for the most part.
Such a huge part of this game is understanding your own emotions.
Allowing your emotions to be there and being able to recognize and interpret them was a major turning point in my trading career.
To be completely honest when I see lots of good setups I get motivated and focused like a laser.
At other times I feel discombobulated and kind of confused and those are times I’ve been hurt bad. I feel this way now but am getting more excited.
It took me several cycles to really learn this about myself and everyone is different.
It always happens that I’m making huge coin and an amazing income and then it gets better and better and I “expect” it daily. Ferrari dreams!
Then markets turn and I’d take a few losses and then have to make them back on top of increasing my daily rake. That never ends well.
I’m much better than I used to be at sitting. If I and we can have a few good runs a year we can come out with more than we know what to really do with in the end, especially after a few years.
I’m not saying a tech bubble type of situation wouldn’t be welcome but we have to take what we get and constantly learn and adjust to our market and ourselves as we constantly evolve.
I could go on and on about the mental game but I think I got the point across.”
As I said, this subject is vast, simple and yet so difficult to master and honestly I don’t think anyone can ever master it. This really is the ultimate game and it’s got so many aspects to it.
I’ve been there and done that and try and help subscribers cope as I talk about my emotions and thoughts every evening. Sometimes it’s a little messy, other times very focused.
Have a great day and always be learning, evolving and getting better.