How trading used to make us nuts
All traders and investors experience hesitation and uncertainty.
You know the drill: We, traders, hesitate before opening and hesitate after. We open and the price comes back. We close and the price keeps going. While in negative, we never know if we should cut our losses. We hope that the price will come back, but it doesn't. And what happens when we close it? The price comes back and explodes, so we miss it. When in positive, we continuously ask ourselves if we should let our profits run or close to secure them. Too early? Too late? Fear of loss and fear of missing out.
What about pullbacks? How many times are we asking ourselves if the price is simply pulling back or plainly turning? Candles keep shifting from green to red and red to green with no clear direction. Some "experts" say the trend is up while others think it's going down. Nothing is ever clearly defined.
We often feel like we're gambling, even after studying as much as for any other profession. We've all tried a ton of strategies, watched so many videos, read books and hundreds of articles. We've all studied patterns, price action and everything under the sun. Yet, we still feel no control. The outcome is always uncertain. We so much LOVE trading, we don't see ourself doing anything else, so we keep going, despite the constant feeling of insecurity and failure. With each losing trade, we fear that we might not make it, even though, deep down, we know that we ARE cut out for this. It's our life. Our identity. It's in our blood and we have the stomach for it. It calls us loud and clear. But we also know that we won't win by gambling our way up.