1. Acknowledge that you have lost objectivity. Now that you are aware of the problem, you can begin to deal with it.
2. Remove yourself from the day-to-day noise and write down what your original thesis was. Clearing off your mirrors will tell you what direction you are moving.
3. Begin to Think Backwards by creating three columns with the following headings (Support, Do Not Support, Undecided). This will force you to Objectively lay out and evaluate the situation.
4. Talk to yourself: “Based on the data points I wrote down in each column, if I did not have a position on, what would I do?” Asking yourself this question forces you re-evaluate the trade from an unbiased perspective.
5. Compare your response with your original position/thesis to create a WIN-WIN (more…)