We can not control:
Whip saws when the trend reverses on us. Gaps in opening prices both up and down. Headline risk. Natural disasters. Whether a trend continues or reverses the moment we open a position. Whether any individual trade wins or loses. How many winning or losing trades we have in a row. The battle for your long term trading success is won or loss in your head. The decision to whether keep going after losing money or to quit is made at the point of maximum frustration with the markets. To keep going you have to keep positive, and keep trading. Knowing the difference between you making a mistake or the market simple not matching your style will go a long way in keeping down your stress and negative self talk.What As A Trader You can Control and What You Can not ?
We can control:
How much we risk per trade.
How big a position size we take.
What time frame we trade.
What market we trade.
Our style of trading.
Whether we stick with our trading plan or go off of it.
If we honor our stop losses and trailing stops.
How we react to a winning or losing trade.