5 emotions you need to master as a NEW TRADER for SPY
5 emotions you need to master as a NEW TRADER for $SPDR S&P 500 ETF Trust(SPY)$ :
1. Extreme boredom. Some days there is no set-up. Remember, consistency and skill comes from taking the same repeatable trade over and over again well.
2. Confidence. You need to be building confidence each day. The only way to do this is preparation and improving from every mistake. This is 99% based on your behaviour and how well you follow your RULES.
3. Uncertainty. No trade is 100% guaranteed. If you take a set-up you have been practicing, then you will know where to stop out and where to sell. But when exactly it happens is unpredictable.
4. Your ego. Trading is you vs you. If you aren’t doing well or consistent it’s because you are not being accountable for your bad behavior like over trading or revenge trading.
5. Patience. Every millionaire trader on earth struggles with waiting. It’s hard. And sometimes you will miss a trade because you waited too long. A new trader, will take every pull back or break out they see because they lack this patience.
Remember, your trading reflections of who you are as a person. It’s a reflection of your behaviour and deep desires to be discipline.
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