I've been looking over my trades and trying to really expose my greatest weaknesses. I believe my biggest problem is over trading on winners. I decide on an entry by checking the daily chart for the last day with volume that could indicate support and resistance. I also look at how many days the ticker has been running and how many days the ticker ran in the past to give me an idea on whether it has a history of being a one and done play or if it can move over several days. I like playing afternoon HOD breaks that coincide with the HOD from previous days. I also look at the range between that day and the next possible day up that could be resistance. Once I have that in mind, I can have a potential move in mind and watch the liquidity for signs of weakness or strength. I have been doing fairly well with this strategy. Now here's the problem; after I've sold for a profit, I get greedy, I get fearful, I get FOMO, I feel stupid for selling too early, I think I should have gone bigger size, and so much more . I get taken out on a nice date with my brain and get totally mind fucked. So I buy back in and even better then just buying back in is top ticking when I do it. So then I think, "this is just a dip", "I'll just add at the next support zone", "ok, that didn't bounce so I'll just add at the next support zone". "Oh shit, I'm red on the overall trade now. FUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUCK! I keep doing this same stupid shit. I'm literally insane. I may have to just start giving myself burpees after a trade to keep myself from getting back in. I should just take small consistent gains and grow gradually over time and once I get enough experience I'll know when I'm comfortable sizing up for bigger gains because I'll have experience enough to know when to take an entry, when to be patient and hold, when to cut losses, when to not trade all together and for FUCK's sake, not get back into a trade.
Sounds like you have to work more on that 'compounding' mindset. It took me some time to just take what was given and be happy about it. The more you do it the better you'll get at it. Just curious, do you use any indicators? I combine a few together which sort of gives me an idea of whether or not the ticker is at a good buy spot. RSI is a good one to give you an idea if it's overbought or oversold in any particular time frame. If the RSI is too high or too low I'll just wait for a breather to
either enter or exit depending on the situation. Stick with it and it'll eventually come to ya!
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