This section was dutifully neglected. I found it more appropriate to initiate a separate thread as I needed advice on how to alter my trading methodology after a particular mistake. A thread dedicated to trading journals is not fit for advice askance. Not to spoil the matter any longer, it may be read here:
Today’s post shall focus on the outcome that erroneous trades have on my psyche. I write for myself because, at the end of the day, I can only observe my reactions and no one else. I can read about others but I can only converse on my feelings and emotions.
As is my preferred writing style, I shall be peppering my experiences with wisdom found around the web and helpful members of this community.
Without further ado, who is familiar with that thread, anyone who revises the choice of words of my initial post may realise that I may have been brusque and rough in my execution despite trying my best to remain cordial in my plea for advice.
The mystery behind the deviant writing approach is that those words reflected my state of mind at the time. I wrote that thread as soon as the adverse market move was happening. I recall taking hasty screenshots, which can be seen by their colour and lack of want to switch off the offending software and start writing those paragraphs.
Eventually, the responding community members made me see the light in my dark approach and am actively taking steps to ameliorate the outcome of my trades. However, this is not the subject of today’s topic. It is the emotional status of my mind after having executed a trade that went the other direction I had envisaged which is still taking me aback.
Not to resort to revenge trading, I heeded the advice given by @ronniepittman and halted the trading session for a considerable period until I gathered my thoughts back and felt I could resume the session in a comfortable state of mind. You might be asking what that advice was. Here you go:
…a simple sentence which reflects much truth not only from a personal level but as a notion reinforced after having consumed many a thread in this forum.
Since I mentioned revenge trading, I think it would be worth the while to elaborate on this phenomenon. Essentially, and as described by Dr. Pipslow, this conditional trading is the result of trades executed after initial positions go the other way we expect induced by a fear that we might have been wrong. This aggressive stance is another source of despair and red trades.
Reverting back to my state of mind after that offending trade, I realised that the common theme of this trading journal is still prevailing as far as I am concerned. Essentially, my issue is all about mental toughness. While there is a whole thread dedicated to the subject I found some comments worthy of note which I wish to share:
We can foster a personal culture of suitable, attractive and results-yielding trades if we follow the list of tasks @PrinceSajir shared to bolster a confident mind:
For those who find no objection to walking that extra mile then may I suggest meditation as advised by fellow members @ronniepittman and @centipede. Let me quote both their comments in their entirety for proper understanding.
A personal note on meditation from my end, to be honest, I am in favour of such a calming and relaxing activity, yet, I have never brought myself to really and truly sit or lie down, breathe and relax my mind. I would rather immerse myself in music, instead.
Well, this point reaches the end of this post. Let us all look ahead to the forthcoming trading week. Good day all!