Talking to myself (back dated December 19th, 2017)

Do I really know what makes me risk more than I should. I think vaguely it would be emotions, but which emotions exactly. I’d say mainly greed because I always forget this is a long term game. Last year this time I deposited 1K and lost it over a week period. 1000/5 trading days= $200 a day roughly. Keep in mind last year I had no real risk management plan.

That’s a loss of more than 10% a day. If I took my time and managed my risk and actually gained that 1% a day for a year I would be laughing now with at least 10-15K and a ton more experience managing my risk and another step closer to leaving the 9-5 life. Right now the #1 goal is to be financially free then mentally and physically fit!

Remember this: Winning takes discipline, discipline comes from confidence and only a system in which you have confidence will you increase your chances of succeeding as a trader.

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Q and A – Psychology (backed dated December 10th, 2017)

Some Risk Management Questions:

  1. Was the loss of money worth all the emotional pain and financial heartache?
  2. If you had the opportunity to do that trade or investment again, what would you do differently.

Tales of Losses

  1. What is the biggest loss you have personally taken in the market?
  2. What was your emotional experience during this event?
  3. What went through your head and heart during this event?
  4. Were you in emotional control or was your destructive ego in control?
  5. Was it worth it my dude?
  6. What did you learn from this experience? If nothing, Then this loss will probably repeat again in the future.
  7. What new disciplines have you now implemented when you invest or trade to protect yourself against losses

Answers:

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