The psychological trap in the game of Trading!
Excerpt from Alden's writings!
This is a feeling that Alden is sure any trader experiences to some degree, having some mornings where you open the chart and just want to… close it.
Not because of losses, but because of the familiar tug-of-war feeling: 'If I close, I’m afraid the price will continue to run, but if I don’t close, I’m afraid to lose my profit.'
“Closing early feels regretful, holding long feels scary.”
And every time, whether winning or losing, I always feel… wrong.
Have you ever felt that way?
A good trader is not someone who never makes mistakes.
But rather someone who understands: the biggest mistake comes from the mentality of 'regret' and 'wanting to be absolutely right.'
We don’t lose because of the method.
We lose because we want the market to act according to our wishes.
Want to hold the order while being sure that it won’t reverse.
Want to close the order while being sure that it is the peak or bottom.
But trading is not the art of predicting peaks.
Trading is the art of surviving through each imperfect decision.
When you step out of the 'must be right' mentality, you begin to trade like a professional.
You don’t need to catch the peak, nor do you need to buy at the bottom.
You just need to go with the market for a while. Right structure, right process, right discipline.
And strangely… the moment you stop wanting to be right, your account starts going in the right direction.
Alden chooses a very simple way: I set the scenario before entering the order!
– If the market is right, I take partial profits. If it goes up, I still make money, and if it goes down, I don’t lose everything. Unless the market waves are very strong and all time frames agree, then I will confidently manage the order to hold everything.
– If the market is wrong, I cut losses at the right point.
– Each order, just need to be right once.
The market is the boss. The trader is the employee.
I just need to complete my KPI.
Doing enough will yield profits. If wrong, stop.
No need to be right all the time. Just don’t die.
Trading is not about who is smarter.
But rather someone who is alert enough not to sabotage their own achievements.
Alden Nguyen