I'm writing to recap my mistakes these last few days as well as help others. Over the last 2 weeks a few things have happened. 1. I broke many of my trading rules 2. I tried to force trades as well as not cut loses when I should due to the PDT rule 3. I let FOMO and emotion get the better of me 4. Tried to make up for it with greed trade
The PDT and paper-trading are all important in the beginning as they help teach discipline, help understand stock patterns/chart patterns, prevent you from over trading as well as protect you from your own ego. In the beginning it should be about the process and the growth, it shouldn't be about the money. If you paper-trade only buy/short 1-10 shares, no more. If you buy 100 or 2k then it becomes about the money and not the process. I failed in teaching myself emotional control with paper as it's not real life, it's not real money on the line. The game changes quickly when it's hard cash on the line each and every tick. I have studied long enough, I have put in the work, I have a plan for each trade, I see the trade but yet emotion still gets me. Time to miss trades, time to put the emotions in check and don't force anything. Better to not trade with any money than to keep losing it. I have 3 patterns I know well and like trading, time to stick to those.
Join now or log in to leave a comment