This always happens to me.
The setup looks great, conditions look great, and I enter the trade…then after 5-10 minutes it’s still stuck in red, and then I start to say to myself:
“Maybe this doesn’t look like such a great setup after all.”
“How did I not spot that red flag before entering the trade?”
“I think I jumped into this trade a bit too early. Should have been more patient and waited awhile more.”
“Why can’t this just go up?? Why is it always stuck in red??”
“That’s it. I’m going to get out the moment I turn green so at least I don’t make a loss here.”
I guess there are two lessons to learn here:
- Be extremely patient and careful before entering a trade. Don’t enter a trade unless you are 100% certain this is the setup you are looking for.
- Have faith to see it through till the end. If this is the kind of strategy you want to trade, then have the resolve to see it through to completion. Believe in your own thesis.
By losing faith and exiting so many of my trades early in the past, I must have had left a lot of potential profits on the table.
Trading is a game of faith and patience.