Everyone goes through this phase, even the best of us.
Especially, the best of us.
One of the most basic things you should know before investing or trading is WHEN TO BUY and WHEN TO SELL.
It should be part of your strategy.
The result isn't hard to predict, it's just either a profit or a loss.
Of course, we always want to be on the winning side.
But even the best of us have losses now and then.
Sometimes, we forget about our strategy and let ourselves answer questions that can lead to more losses.
"𝐻𝑜𝑤 𝑑𝑜 𝐼 𝑚𝑎𝑥𝑖𝑚𝑖𝑧𝑒 𝑚𝑦 𝑝𝑟𝑜𝑓𝑖𝑡𝑠 𝑓𝑟𝑜𝑚 𝑡ℎ𝑖𝑠 𝑠𝑖𝑛𝑔𝑙𝑒 𝑡𝑟𝑎𝑑𝑒?"
"𝑆ℎ𝑜𝑢𝑙𝑑 𝐼 𝑑𝑜𝑢𝑏𝑙𝑒 𝑢𝑝 𝑓𝑜𝑟 𝑚𝑦 𝑛𝑒𝑥𝑡 𝑡𝑟𝑎𝑑𝑒 𝑡𝑜 𝑟𝑒𝑐𝑜𝑣𝑒𝑟 𝑚𝑦 𝑙𝑜𝑠𝑠𝑒𝑠?"
There's no trader or investor who never lost money or even wiped out his whole account.
It's normal. It happens, but it doesn't always have to be the case.
So what happens when losing trades isn't the case?
What happens when we are on our winning streaks?
The thing is our trades are always charged with emotions.
The best traders know this and they always try their best to manage it and decide based on their strategies thus avoiding the Superman Effect.
That's the point of having a strategy anyway...
To know exactly what to do regardless of what you’re feeling. 🚀
What do we normally feel when we keep on winning?
We are at our best…
We can’t possibly lose…
And these emotions will only be shattered when those red digit starts showing.
And since we feel bad about losing, we throw our trading plans and strategies out of the window.
They get discarded as if we didn’t even spend countless hours in refining them and testing our new ones.
We forget about them even though they are our lifeline. 🚀
Because our emotions can easily make us take bad trades we wouldn't do when we aren't emotional.
The key here is identifying when we're starting to be led by our emotions instead of our strategies.
Winning traders don't really make you a great trader. It only makes you profitable. 🚀
And you're only profitable if your port keeps on growing despite the losses.
Build your portfolio, not your ego. 🚀