Building a Trading Plan & Strategy (Long-Term Success)
📍 Why Trading Psychology is CRUCIAL
❌ Greed – Holding onto winners too long, chasing unrealistic profits.
❌ Fear – Cutting winners short, hesitating on entries, avoiding risk.
❌ Revenge Trading – Trying to make back losses fast, leading to dumb trades.
❌ Overconfidence – Thinking you’re invincible after a few wins, then overleveraging and getting wrecked.
🔥 The market is designed to screw with your emotions. Your job is to stay disciplined and stick to your plan.
📍 How to Stay Mentally Strong
🔹 Follow Your Trading Plan – If it doesn’t match your plan, don’t take the trade.
🔹 Detach from Money – Trade based on logic, not emotions.
🔹 Take Breaks – Losing streak? Step away. Don’t trade out of frustration.
🔹 Trust the Process – Trading is a game of probabilities. Losses happen, but if your edge is real, you’ll win over time.
💡 Pro Tip:
Before entering a trade, ask yourself: “Would I take this trade 100 times in a row?”
If the answer is NO, you’re acting on emotion, not logic.
🔑 Key Takeaway:
The traders who last treat this like a business, not a casino. If you master your emotions, you master trading. Stay disciplined, stay in control, and let the market do the work.