Since I wrote my last post (read here), I keep thinking to myself on and off - I am lucky. I am lucky at work, with my finance, healthy, with my family and everything that I do. It is easy to put the blame on external circumstances and taking away the responsibilities (pain) from ourselves when we are facing a difficult situation. By shifting the attention to others, we get some form of relief, at least temporarily.
That might help in the short run but the problem will just escalate and become worse over time. Instead, we should change our perception of things. How? As I have said, the thoughts in our mind is the first place to work on - NOT on the outside. Attempting to change other people behaviour to suit ourselves is both frustrating and it does not work. Because we want to be better, to improve our situation, we need to change our attitude towards the challenges we faced. The faster, the better. To nip it in the bud is to take ownership of it and not put the blame on this and that. Such wishy washy way of dealing with problems not only messed things up but also destroy our character as well.
Today is my lucky day for I had achieved by the grace of God, I had break even in my investment portfolio. I created a small portfolio, starting 3 Feb 2017 and 2 weeks later, i.e. 17 Feb 2017, I invested USD100 and now it is USD207. I am happy and excited as I know the path ahead will be much more exciting. I had learnt a few new strategies and changed my way of looking at things.
One, losses are not treated as losses but part of the winning journey much like the pullback in the chart. It is necessary before it can go higher. Patience is the next important element, run through the history and realised quite a few pairs I took early profit instead of letting it run. Guess the previous losing experience still haunts me that I have to get out, take some profit whenever I see an opportunity. I must curb this habit, have trust in the system and have faith that Lord will pave my way forward.
Another important factor is not to be complacent. Recency bias - where one allows the recent events, e.g. selling at X price and chart shows downtrend, thus thinking it will move in only one single direction. Watch the stop losses, add when opportunity allows and not blindly, be careful of pullbacks as it affects profitability. Watch the trade and not watch the money . Ensure each trade goes according to the strategy.
Limiting Belief - Making money from trading is tough. I need to transform my thinking in this aspect and believe that it is not only achievable but also easy when one follows the rules. The system must be applied each and every time, using the right brain to see the big picture and the left brand to analyse the charts.
Thank you Lord !
That might help in the short run but the problem will just escalate and become worse over time. Instead, we should change our perception of things. How? As I have said, the thoughts in our mind is the first place to work on - NOT on the outside. Attempting to change other people behaviour to suit ourselves is both frustrating and it does not work. Because we want to be better, to improve our situation, we need to change our attitude towards the challenges we faced. The faster, the better. To nip it in the bud is to take ownership of it and not put the blame on this and that. Such wishy washy way of dealing with problems not only messed things up but also destroy our character as well.
Today is my lucky day for I had achieved by the grace of God, I had break even in my investment portfolio. I created a small portfolio, starting 3 Feb 2017 and 2 weeks later, i.e. 17 Feb 2017, I invested USD100 and now it is USD207. I am happy and excited as I know the path ahead will be much more exciting. I had learnt a few new strategies and changed my way of looking at things.
One, losses are not treated as losses but part of the winning journey much like the pullback in the chart. It is necessary before it can go higher. Patience is the next important element, run through the history and realised quite a few pairs I took early profit instead of letting it run. Guess the previous losing experience still haunts me that I have to get out, take some profit whenever I see an opportunity. I must curb this habit, have trust in the system and have faith that Lord will pave my way forward.
Another important factor is not to be complacent. Recency bias - where one allows the recent events, e.g. selling at X price and chart shows downtrend, thus thinking it will move in only one single direction. Watch the stop losses, add when opportunity allows and not blindly, be careful of pullbacks as it affects profitability. Watch the trade and not watch the money . Ensure each trade goes according to the strategy.
Limiting Belief - Making money from trading is tough. I need to transform my thinking in this aspect and believe that it is not only achievable but also easy when one follows the rules. The system must be applied each and every time, using the right brain to see the big picture and the left brand to analyse the charts.
Thank you Lord !
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