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JToma: Practice Positive Perseverance

 TRADERS ASK: “I’M RIGHT, RIGHT?”


I need to slow things down and do exactly this:

 Keep doing exactly what I’m doing, in preparation, in hard work, in planning trades, sharing ideas, and reviewing work. 

 Have more patience so that you only trade each stock from the best levels—this will result in less volume overall and likely, fewer losing trades. Once you’re in a stock, focus on just that one even if it means just waiting on it several minutes. 

 Hit the sweep key if your price is .05 or more out of the money and you haven’t already got out on offer (bid). Simple. Only way to kick this finally.


You have developed bad habits when it comes to hitting out of stocks that trade against you. You need to form good habits. I would spend 15 minutes every day on the demo working on hitting out of stocks. Pick an active stock, set an exit price, and if the stock hits this price, then get the F out. You must condition your mind to habitually hit out of stocks that exceed your exit price. Also, you should have a conversation with yourself. Why are you so interested in proving that you are correct with a position? No one cares about your opinion. No one cares that you think a stock will go up or down. No one. Most importantly, trading is not about being right. Trading is a game of math. It is about finding setups that offer you a good risk/reward and pulling the trigger. Thirty–40 percent of these trades will result in a loss. This is the game. Dr. Steenbarger blogged this a ‘narcissistic desire to be correct.’ You are trying to be right. Consistently profitable traders just make good trades. They accept that they cannot control the results. Think about it.

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