I survived the month of April. For a relatively new trader, that is important especially for this kind of market. This just hasn’t been a market that has had a lot of plays for me. There have been some movers, but overall I have noticed that there isn’t a lot of follow through.

 

One thing that I really struggle with is the fear that I will be wrong. I’m always worried that I’m looking at a chart and I’m not seeing it properly and I worry that I will enter it and be wrong. It seems like something really dumb. I don’t know if I feel that way because I will think that I’m a loser for being wrong or if there is something else. It’s something that I’ve kinda struggled with in my life outside of trading too. I would always worry about being wrong or messing something up and it would generally paralyze me into not doing something. One thing that trading is helping me with is to move through that. At some point, you just have to accept that you are going to be wrong some percentage of the time. You have to drop your ego. It can be tough to do that when other people can ridicule you for being wrong. I’m not perfect at it, but I intend to work on it every day. I work on it by studying charts and looking at setups that make sense to me. I also continually challenge any negative thought patterns that I recognize myself having when it comes to being wrong on a trade idea. It is definitely a process and I’m sure my process for working through this issue will evolve over time. 

 

The key seems to be, don’t give up. Don’t set yourself up to fail. Just hang in the game. I use my time training for a marathon as a parallel to this. There were so many times where I wanted to give up. There were days where I did give up and I didn’t run the amount that I said I would. I would just come back the next day and run. With trading, review your trades, learn from them, and come back to fight another day. Essentially the successful traders say that if you manage your risk while continually exposing your capital to plays that have a high chance of increasing in value, you will make it.