-Are you in a position where you have the capital to risk?
-If you blew your account, would you (your family) be ok?
-Do you handle risk in a healthy way? (addictive)
Honesty can save you a lot of pain here. Ensure you have a healthy risk situation.
10/x 2β£ Emotional Fitness
-Do your decisions make it impossible to trade effectively?
-Are you terrified while holding a winner or to close a loser?
-Are you self-destructive when you make mistakes?
If yes, keep reading. You'll need to address these to get to self-actualization
11/x 3β£ Your Technical Experience
-Do you understand the fundamentals of risk management?
-Can you safely navigate the market?
-Do you know how to write a daily plan?
It's not about knowing everything, it's about attentional focus on the right things.
12/x Last bit on Safety
Financial management and emotional management are the keys to safety.
We must ensure we have a healthy cushion and take appropriate risks with the knowledge that learning to trade will take time. Keep this in mind before handing in your resignation.
13/x πLove & Belonging
One thing we can lose really quickly in trading is the social element. That's the biggest benefit to fintwit.
We must also maintain our relationships outside of the cipher. We must grow our loving relationships that give life meaning & a "why"
14/x Esteem - Confidence πͺ
Most of us get mangled by the market. Confidence can come and go, but we have to always bring it back.
Fostering discipline and a heavy focus on building healthy decision-making can increase your odds of success dramatically. cont'd
15/x Decision Making
Start by researching ways to use visualizations to create better habits and flip the script with the repetitive poor decision-making process. It doesn't happen overnight but you can change.
(or just DM me if you're really struggling)
16/x Discipline
Everyone wants discipline, few are willing to do disciplined things. I learn this every time I ask a client to journal their trades and their emotional volatility.
You must set boundaries on behaviors that cause you pain and instead guide you toward pleasure.
17/x Respect of Others
We are social creatures, we always want to be the best, sound the smartest, get picked first - it's natural.
Be yourself and it will take a lot of the pressure off you and you'll never feel like a fraud or failure.
You'll fuck up, but own the process.
18/x Self Actualization
Mastery of these elements and the questions make it easier to find your way and find your place in the market.
Peak performance will come, profitability will come, but it won't come easy.
Nothing ever does.
19/x to be continued
We have to know the game we are playing and be honest with ourselves about what this process entails.
Resilience requires we stay in the game without self-destruction. Most give up along the way - and that's probably for the best if unwilling to change.
I'll continue adding to this thread with more specific elements on our emotions, decision making, clearing biases, and a number of other topics but I wanted to get this out there for now. π§
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@Reveretrading Thanks PR, hope you hit 'em straight yesterday. ποΈββοΈLooking like we tested and (so far held) the two ETH highs around 73 from last week.
@Reveretrading Seeing some big selling around 3290 (shocked face)