TRADING PSYCHOLOGY(The market and Me)
We are in a symbiotic relationship with the market. The market offers us tremendous oppurtunities on a momentary basis and any one of these opportunities can fufill all of our financial wishes but the market always entices us to bet bigger.
We are in a symbiotic relationship with the market. The market offers us tremendous oppurtunities on a momentary basis and any one of these opportunities can fufill all of our financial wishes but the market always entices us to bet bigger.
It entices us to increase our position size just like the relationship between a pover bird and a crocodile. The pover bird pecks at scraps from the mouth of a crocodile and the crocodile gets free dental cleaning in return, that's what symbiosism is like. Sometimes, the bird
Gets greedy and may want to go 'all in' (high position size) into the crocodile's mouth to get bigger chunks of flesh and may end up being a snack (stoploss or liquidation) for the crocodile instead of managing the normal scraps from the teeth(poor risk management and strategy)
Take a lesson from the pover bird. The market has nothing to lose but we have a lot to lose and gain. It's give and take and so you have to watch your back. Proper risk management, Maintain a calm and collected psychology (bf/af wins or losses), Up your technical analysis skill.
@rattibha thread this
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