Are you creating the trading success you desire? If not, it’s possible your emotions are getting in the way. Here are five signs your emotions may have run amuck!
1. It’s ground hog day.
It’s Monday morning and you are starting “fresh” this week! You swear you won’t make the same mistakes you made last week (and the week before).
There might be some initial success but suddenly, womp womp, there you go, again!! Making the same mistakes over and over is a clear sign that emotions are hijacking your trading decisions.
2. What happened to the plan?
If you find yourself driven to take a trade not based on a plan or analysis, you are in dangerous waters. Perhaps it seems as though you have lost control and you no longer care what the plan says! You may be making decisions on the fly. Or, even feel like you have been possessed and are powerless.
3. You can’t take a loss.
You understand how taking your stop is sound trading strategy. However, when confronted with the inevitable–an actual trading loss–you lose all reason and make an emotional decision to not exit the trade.
4. You are using “hope” as your strategy.
Are you in touch with reality as you trade? Or, do you find yourself using “hope” as a trading strategy? As you watch the market, are you noticing what it is presenting to you, or are you hoping and wishing it will go your way?
5. Your body is speaking to you.
You may be able to read someone else’s body language. But how often do you tune in and listen to your own body? As you trade, do you experience sensations, such as rapid heartbeat, dizziness, fear, upset stomach, pressure, etc? These physical sensations are emotional cues to get your attention.
Have you been on an emotional roller coaster?
Creating Enlightened Traders 