So just thought I'd share something that I just started doing that might help others like it's helping me. If you have any other good ideas to add, I'd love to hear them!
Anyways, my pc setup has 2 monitors. On one monitor my platform, and on the other I have a word document in big letters with the following:
"BE HONEST WITH YOURSELF!!!
Are you pre-occupied,busy, or rushing for work?
Are you forcing this trade or is there really a good play?
Are you chasing?
Is a pullback due? (Has it ran too high too fast without people taking profits?)
Do you have a solid support/resistance formed?
DON’T BE GREEDY, BE SMART!
SET YOUR STOP LOSS!!!
YOUR STOP SHOULD FOLLOW THE TREND IF YOU’RE LETTING IT RUN!"
This helps me clear my head and really think before I pull the trigger to buy. You have to be honest with yourself and willing to admit that you're forcing a trade, that you don't have a good plan, and that you're chasing. You have to be willing to miss a play in order to protect yourself. I've noticed that every single time I chase, I get burned. Every time I'm rushing for work and can't watch the market, I get burned. Every time I "HOPE", I get burned. PROTECT YOURSELF!
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