Every trader needs to ask themselves, why am I trading?

Warren's Trading Titans

I believe sometimes people don’t have a clear objective on why they are trading. There are even some traders who have a false reality and ultimately end up with blown accounts.

Once you figure out why you are trading, things become a bit better mentally. I don’t mean why you got into trading or what the long goal is. I mean specifically why are you trading right now, what are you trying to accomplish now.

Setting clear expectations and goals is key to controlling your emotions. I see a lot of people trading with money they can’t afford to lose or even expecting a 5x, 10x return monthly.

I took a step back after a few blown accounts and focused on learning to trade/understand the market. When I took trades I was no longer interested in if it won or loss, I cared about the reasoning behind why I placed the trade. I started to study that and overtime became a better trader. If you try to learn and profit at the same time, it will be difficult for you. It will specifically be difficult on your emotions.

Focus on the learning/developing a trading plan and the rest will fall into place.

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Last updated: 11/07/2023 06:38

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