|
Re: Developing a Consistent Attitude
Assuming you have a clearly defined Edge and have the discpiline to execute the trade knowing "anything can happen", you are well ahead of the game.
Since "fear" sets in when executing the trade, try adjusting entry size. Sounds easy, but that will allow additional "mental comfort" while you maintain full perception of what is happening before your eyes. Without this perception, your mind will find all the reasons to verify you were "right" despite maintaining a losing trade.
There are many discussions of "pyramiding" or "scaling in". As the trade develops, add more shares. Never average down. Don't begin pyramiding or scaling until your confidence is back.
I will say that the additional "comfort level" with the initial reduced share amount should NOT allow you to break your rules. Execute the stop (or proft) as planned. I believe you will find the probabilities and edge still exist (if you have a defined edge), but the mental "imprints" of fear will be reduced.
One drop at a time.
Speaking from experience.
|