- -Symptom; You notice a missed opportunity, that would have resulted in a hypothetical massive gain.
Remedy; You never made that amount of money. So you are day dreaming, therefore you’ll have to put effort in catching another trade. There is always another trade! - -Symptom; You open a trade based on your bias and following Z Pattern trading method, yet the market turns completely around and goes south.
Remedy; Your job is to analyze before you open a position, anything that happens afterwards is not anymore in your hands. You are not to blame, rather praised for being a sophisticated trader who sticks to the trading plan. - -Symptom; You see a trade opportunity that doesn’t completely line up. Where your feelings tell you, that this is a sure winner.
Remedy; Regardless of the outcome, you cannot trade based on your feelings and if that means that you let a few winning trades go than that is what you have to do. - -Symptom; You are in a position that you believed is in line with Z Pattern trading method, but after a while you realize that you’ve been wrong. That means your perception of taking a trade at that time was manipulated by either yourself or you were influenced by your environment.
Remedy; A successful businessman cuts losses short when he/she sees a flaw. So should you. - -Symptom; You placed a trade and your Tp has been hit. However price continued for a potential far bigger gain.
Remedy; You’re responsible for trading within the Z Pattern trading framework.
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