Trading Psychology for this Quarter

This quarter, I’ve been able to emotionally detach myself from my trades so far. Part of it is due to the fact that I’ve had more on my plate lately and haven’t had the time to monitor my trades as closely; the other part is that I’ve developed somewhat of an indifference to the money in my portfolio. It’s not to say I don’t care about the money at all, I’ve just been emotionally detached from it to a certain extent. This lets me concentrate on the actual stocks and their charts instead of worrying about the dollars.

My heart doesn’t drop if my stock goes against me. If a stock goes down one day, it’s okay as long as the trend doesn’t break. Even in a perfect stock, there will be pull backs and I don’t think there’s ever been a stock that has been up every single day of the year. There have been times this year when I’ve been wrong and still made money! The reason is because of how I manage the trade (Cut losses, Let Gains Run). I have to keep trusting my trading plan.

Labels: