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Hello,
The truth is, it is very challenging and hard to stay consistent and trust my reads or setups and exit method, when the account balance is currently -$X,XXX. The temptation to seek another way to trade is constantly in reach, but this may lead down a rabbit hole of continued chasing.
As I day trade day to day, one thing I am realizing is need to stay consistent in whatever I am doing, even though when I am losing the last X to Y trades in a roll or account balance is $X,XXX.
Where does Al talk about staying in the consistent and focusing on the next trade even though I just lost the last the X amount of trades and account balance is -$X,XXX. And also where does he talk about having the confidence to trust your ability to read the price and act continuously.
I know its somewhere in the course and maybe I forgot, just curious on the location.
Thank you,
I don't remember where or if he said this in the trading room. The idea is to build confidence by trading the "I don't care size", this way you can focus just on execution while learning, without micro-managing trades with fear of loss. Without experience, no confidence, it's learning by doing. A trade is a good trade when you did the right decisions regardless if it was a winner or loser.
Baby steps (even start with sim account), takes time. If you are in for the long run, don't pressure yourself into making money right away, just focus on learning. Confidence follows. Money is a byproduct of good trading decisions.
I don't remember where or if he said this in the trading room. The idea is to build confidence by trading the "I don't care size", this way you can focus just on execution while learning, without micro-managing trades with fear of loss. Without experience, no confidence, it's learning by doing. A trade is a good trade when you did the right decisions regardless if it was a winner or loser.
Baby steps (even start with sim account), takes time. If you are in for the long run, don't pressure yourself into making money right away, just focus on learning. Confidence follows. Money is a byproduct of good trading decisions.
Hello yuri,
I appreciate you. Thanks for the input.
video 06, Personality Traits of Successful Traders
Traits of great traders
Doing stupid things
Comfortable with uncertainty
