Hey Guys welcome back!!
The last 4 weeks I have been in a Roller coaster whether it be my equity curve or emotions. I’ve had consistent states of cognitive dissonance.
Cognitive dissonance – the state of having inconsistent thoughts, beliefs, or attitudes, especially as relating to behavioral decisions and attitude change.
In Trading this happens when your thoughts and belief contradict your behaviors/ actions. This has happened to me multiple times this week. whether its me saying I will not trade then continue to trade or me saying that I would take 3 trades but then proceed to take 17(seriously). These behaviors will definitely lead me to failure and crashing and burning earlier than later. I’ve told many people I do not want to make another deposit this year. What is the point of me trading if I’m continuously making deposits only to give it to the market and other traders. In the last 2 weeks alone I’ve doubled my account only take a big hit in 1 day from not being consistent and disciplined. After thinking and really trying to understand why I have these bad behaviors, what I found was that it was a result of my emotions, specifically GREED
Greed – A selfish and excessive desire for more of something (such as money) than is needed
My biggest challenges this week