Co-Wise: How do you improve your trading mindset over time?
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Keep a Trade Log and Journal!
Trading mentality is the most important thing to hone over time. When your mental state is not calm, you will make a lot of horrible mistakes (FOMO for example). If you do make mistakes, you have to take the emotion out of it and understand what went wrong.
I like to use a trade log, tracking all of my trades: entry, exit, profit/loss, notes on why I took the trade. I also put down rules for each trade: portfolio size risked, total amount of money in each trade.
For my journal, I like to write about how I felt today and make a note for each time I did something that fits my values/goals/principles. I also draw pictures to visualize how I’m feeling/what is on my mind, good or bad. This makes me in a more calm state and helps me let go of any thoughts that could impair my judgment.
Highly suggest you try this!
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8 Comments · 19K Views
Chris Cheung InvestOP NANA123:
Meta Moo : good habit
ultra976 : Dude.. finally see you in Moo. enjoyed your YT videos. Keep it up
Chris Cheung InvestOP Meta Moo: Thanks Moo Moo!
Chris Cheung InvestOP ultra976: Really! nice to hear that! Lot of life changes lately but I will eventually post again.
ultra976 Chris Cheung InvestOP: Been there done that, I understand how you feel I've stop my channel a long time ago. Hope all is good for you.
ultra976 Chris Cheung InvestOP: Good luck on your Realtor stint. You better be Ballin when I get to NY, pick me up with your Rolls or Maybach k