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How To Follow Your Trading Plan In 2023!! 🌲🌲🌳🌳I hope 2022 was a positive year for you on the trading front. My own trading results vary a lot from year to year. Some years I’m profitable, some years I’m not. Even when I follow my trading rules to a T. Such is the nature of trading. For me, 2022 was Interesting to see in The Market. but I didn’t press too much since I had an absolutely phenomenal performance in 2020-2021. I wanted to take it easy, especially since stocks / crypto felt a little toppy for me. and also check this out Post From TradingView But 2022 market conditions were very Unforgiving and the Market Gods have been throwing Dirt at the Disciplined and the Undisciplined. So, if you haven’t made any money in 2022, don't worry because opportunities were not lacking. That being said, know that there will always be opportunities. Human behavior changes over time, but NOT HUMAN NATURE . That’s why you see—and will continue to see—financially exploitable patterns in the markets. Now, whether you made money or not in 2022, it’s important to remain Humble, recalibrate your mindset, and renew your commitment to your trading plan in 2023. Here’s what I suggest you do. Two Steps … First , recognize that the nature of the market makes trading an emotionally charged game by default. Emotions never go away. Over time, and with experience, we just learn not to let them fuel irrational decisions. Second , acknowledge that your emotional states do not need to match your trading rules. This is very important… you don’t have to always feel good about following your trading rules. It’s not necessarily meant to be a “feel good” thing. There’s a reason why following your rules/plan doesn’t feel good: those things give structure to your behavior, and your mind doesn’t like that. Your mind is like a wild animal and likes to do what it wants. I mean, who likes rules? Rules are hard to abide by, especially one’s own rules. If you’ve ever tried a really strict diet, you know what I’m talking about. So, it takes a special kind of courage to still choose to follow your trading rules, amidst the discomforts. And mindfulness can help you access and grow that courage. INFUSING MINDFULNESS INTO YOUR TRADING PROCESS The idea of sticking with your trading rules despite the discomforts is that you need to feel worse before you can feel better. In other words, you need to go through the pain of following your trading rules in the present, so that you can enjoy consistent profitability in the future. This is not an easy and comfortable process. Again, it’s hard. From an early age, we learn to stay away from pain and discomfort. But the thing is, pain and discomfort aren’t always bad, and you can learn to overcome the toxic conditioning of automatically thinking that they are bad by willingly opening up to how you feel. This is where mindfulness can help. Mindfulness is simply being aware of what is happening right now without wishing it were different. It’s enjoying the pleasant without holding on when it changes (which it will); it’s being with the unpleasant without fearing it will always be this way (which it won’t). In that sense, mindfulness is said to not solve your problems, but rather dis-solve them, which is a rather poetic way of saying that it can help you see through your discomforts. By cultivating such a skillful perspective on so-called negative emotions, one can learn to reframe and reinterpret them as just neutral, non-dual information arising and passing. Armed with this new perspective, you can then learn to act in the market with a greater degree of objectivity, and the unpleasant emotions that arise in relation to following your trading rules will no longer hold such power over you. LAST FEW WORDS Before I end this short post, I want to leave you with two things. 🙂 First, a quote from famous German philosopher, Nietzsche: "If you are unwilling to endure your own suffering even for an hour, and continually forestall all possible misfortune, if you regard as deserving of annihilation any suffering, and pain generally as evil, as detestable, and as blots on existence, well, you have then, besides your religion of compassion, yet another religion in your heart (and this is perhaps the mother of the former) –the religion of smug ease. Ah, how little you know of the happiness of man, you comfortable and good-natured ones! For happiness and misfortune are brother and sister, and twins, who grow tall together, or, as with you, remain small together! All Nietzsche is saying is that you need to keep pushing your own boundaries even if it means that you have to suffer pain and discomfort in the process. That’s the only way to grow. Clinging to comfort is one of the worst things you can ever do because “happiness and misfortune are brother and sister, and twins, who grow tall together, or remain small together!” Second, an action step: When placing and/or managing your trades, make sure you have a clear idea of the kind of emotion you’re experiencing. Then set an implementation intention by repeating the following: “I will not blindly react to ( fear, anger, greed… name the emotion ) , Instead, I will use it as a cue to redirect my attention to my trading plan.” and yeah that's it Likewise always Wishing you a Profitable Week and Welcome 2023 . Happy New Year!! and yup Have a Good Day Trader And Investor. Many Thank The Creative persons 'Freya-PasSiFolle 'YVAN.
NASDAQ:AAPLEducation
by Zestiria
3
EURAUD post trade analysisRisk Disclaimer. Trading foreign exchange on margin carries a high level of risk, and is not suitable for all investors. Past performance is not indicative of future results. The high degree of leverage is dangerous and can work against you as well as for you. Before deciding to invest in foreign exchange or any market you should carefully consider your investment goals, level of experience, and risk tolerance. Lot size: 1.00 standard lot (2x 0 .5 half lots) Total Loss: -84.93 USD
by milesjohnson778
1
The Bears tried but the Bulls PrevailedXAUUSD Weekly. On NFP day the bulls managed to push the price down by 345 pips which was roughly half of the total bullish move last week. However the bulls managed to break and close above the high of week 19 September. The bulls managed to take control of last week. We mentioned on Friday that the bears would be in better position if they closed below 1687.98 during the closing bell. Unfortunately, they only managed to have a close of 1695.
OANDA:XAUUSD
by TheTradingPulse
UPS Post Earnings PullbackNYSE:UPS Triggered a spike alert this morning which is happening at the 50% Retracement of the Post Earnings Rally. (see below for Daily higher timeframe context) These are the real "earnings plays" that can yield positive returns rather than trying to buy a guess on the day before. Trying to buy or sell the day before earnings is a guess but very often earnings cycles create these setups weeks after a move has occurred with a much higher probability than a 50/50 bet.
NYSE:UPSLong
by norok
JP Morgan (JPM) Post Earnings PullbackFor certain stocks I have Spike alerts setup on multiple timeframes to find opportunity. Today a Spike Alert triggered on the 2 Hour Swing Timeframe for NYSE:JPM . Where this spike in the opening morning price is occurring is at the 50% Pullback to the post Earnings rally. I was able to put on a position at the 50% proper this afternoon. This sets up a very low risk entry to play a move back to retest to highs of the post-earnings rally and beyond.
NYSE:JPMLong
by norok
3
USDT.D - BTC/USDT Correlation: Machine's Wisdom or Coding Error?Trading Neural Network finds correlation: Pumping USDT Dominance (USDT.D) = Dumping BTC Price (BTC/USDT). Machine's Wisdom? Or a Coding Error to be fixed? Linear Regression wedges forecast high USDT.D. AI predicts Bullish Wedges on USDT.D. If the correlation is true, BTC could crash. Chart Pattern matching finds correlating Bearish Wedges. The latter is on the BTC/USDT chart. Machine learning made a good call on JUV. See RELATED IDEAS. Is it luck? Or bots beat humans in trading? NNMF* translates the machine's call into the TradingView idea: USDT.D up. BTC/USDT down. So, we marked the post neutral. No human supervision. Trade with caution. *Non-negative matrix factorization translates machine
CRYPTOCAP:USDT.D
by Elysian_Mind
3