Wish:
- Based on hope or desire without a concrete plan of action.
- Often driven by emotions such as fear, greed, or FOMO (fear of missing out).
- Lacks research and analysis to support it.
- Can result in impulsive decisions that are not aligned with trading goals.
- Often based on incomplete or incorrect information.
- May involve chasing trends or following the crowd.
- Can lead to irrational risk-taking.
- Often leads to losses in the long run.
- May not take into account the trader’s risk tolerance.
- Can result in a lack of discipline in trading.
Decision:
- Based on careful research, analysis, and a well-defined plan of action.
- Driven by logic and reason, rather than emotions.
- Supported by data and information from reliable sources.
- Aligned with the trader’s specific trading goals.
- Based on a thorough understanding of the market and its dynamics.
- May involve a contrarian approach or taking a calculated risk.
- Takes into account the trader’s risk management strategies.
- Often results in long-term profitability.
- Can adapt to changing market conditions.
- Requires discipline, patience, and consistency.
Wish:
- Often focuses on short-term gains.
- May involve ignoring warning signs or red flags.
- Can lead to overtrading or holding onto losing positions.
- May involve trying to time the market or predict future price movements.
- Can result in missed opportunities or regrets.
- Often relies on luck or chance.
- Can lead to a lack of confidence in trading.
- Can result in emotional burnout or fatigue.
- Often lacks accountability or responsibility.
- May involve blaming external factors for poor performance.
Decision:
- Focuses on long-term gains and sustainability.
- Takes warning signs or red flags into account to minimize risks.
- Involves cutting losses quickly and letting profits run.
- Uses technical and fundamental analysis to inform decisions.
- Maximizes opportunities and minimizes regrets.
- Minimizes reliance on luck or chance.
- Builds confidence through a track record of successful trades.
- Emphasizes self-care and balance to avoid burnout.
- Takes accountability and responsibility for trading outcomes.
- Learns from mistakes to continuously improve trading strategies.