9.13.23 I decided to talk about Tesla because of its very bullish move. I think it's always challenging that the market will cause biases... suppositions that you expect will drive the market in one direction or the other. I don't think biases are good or bad yet I know that I need to filter some of my bias because I know that things happen in the market that will give me an initial sense that the market is going to do one thing but I still need spend a little bit of time asking myself what I might have missed. Take some experience to develop this approach, But it doesn't take much time to work through a trade decision when you're use Bias and you have a system to filter out your mistakes that you've worked out over a long of time. When I was a lot younger I was frustrated when I made bad trade decisions. For me indecision and the thought that I'd have to think a little bit before making a trade was very stressful because indecision meant that I couldn't or that I shouldn't take the trade. There are traders who are chartists who look at the market deciding what it will do eventually. That's not so stressful. But if you have to take a trade Now if your signal tells you to take a trade... and you need to filter your decision... that's more difficult...And I believe that takes some time to develop so you have a system and an approach and you've worked out a way to manage your stops... after you've decided what a good trade location looks like. Tesla can make new highs or can correct lower. Document your thoughts... even the thought to wait. I think the hardest part of trading for me is the entry. There are good entries and there are not so good entries... and if you trade you will take both entries from time to time. If you don't want stress You can be a chartist.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.