Regret

It’s easy to understand the inevitable regret that comes after losing trades.  Trades where we did our best analysis, ran all of the numbers and waited patiently for our entry point.  Despite our discipline, the trade failed and we lost capital.  However, regret can also come with winning or break even trades that we exited too early.  Watching a small winner turn into what could have been a massive winner will inevitably lead to baggage we bring into the next trades.   In this session, we discuss how we bring baggage from past trades into new trades and we talk about how to clean the slate and start each trade with no baggage.

Missing a Trade

Missing a good trade can be one of the most frustrating things to a newer trader. In this session, we talk about what missing a trade really means. Just because a position that you were thinking of buying/selling went the direction you thought it was, doesn’t mean you missed a trade. Missing a trade is when you do all the analysis, have the trading numbers you want and then chicken out. We discuss missing a trade vs chickening out on a trade and how to get over that trading mistake.

Envy

Shifting focus away from yourself onto other people. This leads to an obsession with how much other people are making and can cloud your judgment. One of the 7 deadly sins.

Revenge Trading

We’ve all done it.  Took a loss on a trade and immediately tried to go the other way and make our money back.   Studies show humans feel losses twice as strongly as they feel gains.   After a loss, our brains will react poorly and cause us to trade in a non-systematic manner, relying on emotions for decision making.   In this session, we discuss why revenge trading happens and what a trader can do to avoid this mistake.