I think I understand markets well but I have a big problem with discipline.
I know exactly what to do but I end up passive or actively start making all known mistakes!
Its slightly bizarre for eg:
When I see my trade start faltering and turning into loss,
I *know* I should exit or atleast I should lighten up the position but
I find it hard and often fail to cut the losses.
I *know* one should cut the losses instead of praying and hoping but
I fail to do it when losses start to mount up and eventually bail with huge loss!
I *know* I should not revenge trade but after losing I go 'all in' to recoup the losses
ofcourse risking beyond feasible level will always end in loss its simple math.
I find a huge gap between knowing & acting, which I am not able to cross.
whats worse, I have even read 'disciplined trader' and I *understand* things
(such as pre-planning trade, defining risk prior entry, following trade plan/MM blah blah) but
I find it hard to act on those understanding.
well you may ask, if you know what's right then why the hell you can't go ahead and do it?
am asking the same question to myself and other successful/learning traders with answers!
In the heat of the moment, it seems my logical brain shuts down and I become logic blind!
How can one avoid such 'logic blindness' ?
I can see this problem in me and others but have no solution so far!
This situation seems to have another parallel, a drug addict who understands his addiction but have no power to overcome it!
I know exactly what to do but I end up passive or actively start making all known mistakes!
Its slightly bizarre for eg:
When I see my trade start faltering and turning into loss,
I *know* I should exit or atleast I should lighten up the position but
I find it hard and often fail to cut the losses.
I *know* one should cut the losses instead of praying and hoping but
I fail to do it when losses start to mount up and eventually bail with huge loss!
I *know* I should not revenge trade but after losing I go 'all in' to recoup the losses
ofcourse risking beyond feasible level will always end in loss its simple math.
I find a huge gap between knowing & acting, which I am not able to cross.
whats worse, I have even read 'disciplined trader' and I *understand* things
(such as pre-planning trade, defining risk prior entry, following trade plan/MM blah blah) but
I find it hard to act on those understanding.
well you may ask, if you know what's right then why the hell you can't go ahead and do it?
am asking the same question to myself and other successful/learning traders with answers!
In the heat of the moment, it seems my logical brain shuts down and I become logic blind!
How can one avoid such 'logic blindness' ?
I can see this problem in me and others but have no solution so far!
This situation seems to have another parallel, a drug addict who understands his addiction but have no power to overcome it!
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