Advanced trading tip

A lot of trading mistakes is due to having too HIGH expectations for big results. This causes stress, anxiety, poor judgement and overconfidence.

This can happen in 2 ways:

1. You lost money now you want to make it back.

*Well, then you start to force trades, revenge trade, take big positions and make a bunch of other mistakes.

2. You made a lot of money now you think you are unstoppable.

* You got lucky a few times so now you think you don't need to manage risk, increase position size and double your money.

🔑Takeaway

* Stay focused and keep calm at all times.

* Continue improving trading system and process

* In the middle of trading don't change your process only do it afterwards when you review.

* Consistency is what you are striving for as a trader nothing else (yes, nothing else).

Overconfidence bias is the tendency to overestimate our knowledge and abilities in a certain area. As people often possess incorrect ideas about their performance, behavior, or characteristics, their estimations of risk and success often deviate from reality.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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