Trade Confidence and Capital Preservation
"Staircase up - Elevator down"
The market is about building up trade confidence as it leverages your emotions to risk more as you win more until you are caught over-risked
Risk management is there to protect you from yourself.
"Staircase up - Elevator down"
The market is about building up trade confidence as it leverages your emotions to risk more as you win more until you are caught over-risked
Risk management is there to protect you from yourself.
In a short term trending market you might find relatively easy trades as you identify the trend/long the pull backs or short the retest.
Keeps working- you become euphoric and start disregarding your risk management as you figure you might have an edge (short term)
Keeps working- you become euphoric and start disregarding your risk management as you figure you might have an edge (short term)
The MM's as we call them play on your emotions by using what is displayed on a chart to "give" you these easy setups until you are overleveraged.
Personally; when I start becoming euphoric and grasp a few wins that's key that I should step away or tier down.
Personally; when I start becoming euphoric and grasp a few wins that's key that I should step away or tier down.
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