Presuming to kill
The harm of subjective transaction
Self-analysis of trading also deserves special mention. One stupid mistake leads to another stupid mistake and it becomes a vicious circle. At this point, the trader learns to let go. Subjective traders in particular should let go. Subjective decisions are more likely to be negatively affected by emotions. Sometimes traders feel trapped. When that happens (not "if"), it's best to suspend trading. Remember, there will be trading opportunities next month, next quarter, next year.
The Importance of Confidence
My experience is financial trading like a professional sport. Professional sports players are open and honest about their commitment. How many times have you heard statements like, "This athlete is in great shape," "he has great confidence," "He is too nervous on the court"?
Maybe you've considered all the possible scenarios in your trading plan, but you still have doubts and you still don't have confidence, so you don't trust the system completely. Cancer and heart disease are the two biggest killers of American health, and doubt and hesitation are the two biggest killers of sound trading plans.
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