Not directed at anyone in particular, but there is a lot of well-intentioned #trading advice on fintwit about avoiding FOMO, being patient, reading price, etc. However, the underlying issues aren't being addressed: [a short thread]
#Futures
#Futures
If I'm avoiding FOMO, then what am I waiting for?
If I'm being patient, then what am I looking for to act?
If I'm reading price, what is it exactly that I'm reading?
If I'm being patient, then what am I looking for to act?
If I'm reading price, what is it exactly that I'm reading?
The core issues for most are no longer under-capitalization and leverage (thanks to the push for micros that finally came to fruition). The underlying issues that must be resolved are...
A lack of a vetted and understood plan. A lack of understanding of how the market works (the auction mechanism). A lack of awareness of our own emotional triggers...
When all of that comes together with clearly defined risk rules and strong preparation, then all that is left is to wait for the opportunity to show up. Execution without thought requires strong preparation (watch the daily #TraderBite) and no distractions...
The best results come from being in a strong "flow state" and a process that has become intuitive, thoughtless and effortless.
By the way, this is true for all activities that require good execution (sports, gaming, etc.)
By the way, this is true for all activities that require good execution (sports, gaming, etc.)
What are we or can we do to be in a clear flow-state?
Achieving this will make problems relating to FOMO, patience and distraction from price non-existent. We must go to the core of the issue to transcend it rather than the symptoms that result from it.
I hope this helps a bit.
Achieving this will make problems relating to FOMO, patience and distraction from price non-existent. We must go to the core of the issue to transcend it rather than the symptoms that result from it.
I hope this helps a bit.
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