most of you reading this have had a ‘gamble bag’ turn into a core position of your portfolio for the wrong reasons*, myself included.
you make a decision based on impulse, or with little thought behind it, and that invites similar haphazard decisions to be made sequentially. It almost always ends poorly and that’s the only time that streak of bad decisions is broken - when it’s too late
everything in trading is a domino effect:
how you approach the market, even if it’s seemingly minuscule to your portfolio, indirectly impacts how you approach the market thereafter
I can’t tell you how many times I’ve been unable to justify taking a position, because I was too heavily underwater on a position I didn’t even plan on being in
but those are beginner mistakes. I haven’t done that in years. I’m better than that now.
you see, it’s impossible to convince yourself that you’re an ‘elite trader’ when you’re continuously falling victim to the same poor habits that you were when you first started, whenever that was
how exactly do you plan to yield a different result than the “95% of traders” that lose, when you’re succumbing to the same emotional immaturity and lack of discipline, as those “95% of traders”?
you can’t.
If you want different results, you have to think and act differently. If you want to trade like a “professional”, you have to act like it.
It starts with your habits.
Markets don’t control your outcomes. They’re a reflection of your decisions.
𝑌𝑜𝑢 𝑎𝑙𝑤𝑎𝑦𝑠 𝑔𝑒𝑡 𝑒𝑥𝑎𝑐𝑡𝑙𝑦 𝑤ℎ𝑎𝑡 𝑦𝑜𝑢 𝑑𝑒𝑠𝑒𝑟𝑣𝑒