The key to success is a trading plan and sticking to it in all times. So why it is so hard for traders to stick to the plan? Answer can be complex, but to put matters in simple way is it the emotion that get over the traders. Emotions are number one distraction in terms of sticking to trading plan, so dont underestimate them.
Can you take emotions out of trading? You cant. As long the action is lasting your heart is pumping and emotions are taking over. Emotional highs of trading is one of the reasons people are attracted to trading in the first place. You put the trade and you make money, you can imagine the rush flowing through you.
Focus on the price - focus on the price and what should you be doing with your trade around that price, not so much on how much you earned or lost.
Its not right vs wrong - market doesnt care if you were right or wrong, so dont get caught up in "i was right" and you still lost money. Dont take it personal if your trade was wrong, you are going to make mistakes. At the end its all about dollars.
Learn how to loose - you are going to lose, everybody loses. People who say they are right all the time are lying. Its about cutting the loses and letting profits run.Its all in money management.
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