Short thread about how I deal with the mental game and time factor:
The biggest problem when trading/investing is lack of patience. This generates a lot of dissatisfaction.
Today, society only seeks immediate pleasure, and long-term goals are becoming more difficult to achieve.
The biggest problem when trading/investing is lack of patience. This generates a lot of dissatisfaction.
Today, society only seeks immediate pleasure, and long-term goals are becoming more difficult to achieve.
The key is knowing what is in your control and what is not. This is called Dichotomy of Control in Stoic philosophy.
You cannot control the market or when an event is going to happen, but you can try be on its side, on the side of the highest odds.
You cannot control the market or when an event is going to happen, but you can try be on its side, on the side of the highest odds.
Another important concept is learning to enjoy the journey and not just the end result. Your satisfaction and happiness should come from how you act, from the analysis you do and from how you feel with yourself. This is under your control. The rest is not.
Some mental tips that will improve your life as a trader/investor:
1) If you sleep poorly at night when you have a position open, it's because the size of that position is more than you can afford to lose. Reduce it.
1) If you sleep poorly at night when you have a position open, it's because the size of that position is more than you can afford to lose. Reduce it.
2) Always set alerts. Alerts are a life changing tool. Sometimes we stare at the charts wasting our time while price is completely sideways. Don't check price unless you are studying or alerts get triggered.
3) Ignore the noise. Focus on what you do and ignore the rest. This is not easy and I myself still have to work more on it. Most of what you read in the news and on Twitter is pure noise and will waste your time and change your mood/analysis in a bad way.
4) Keep the focus. It's easy to get distracted by so much stimulation. A thousand open charts, Twitter open on another screen, Discord on the other... Human beings are not multitaskers and productivity is greatly reduced when we try to be on two things at once.
-Use fewer screens and always maximize the window so you don't see anything else.
-Listen to relaxing music without lyrics.
-Eat a healthy diet and exercise daily. Take care of the quality of your sleep.
This will not only improve your focus, but also your productivity.
-Listen to relaxing music without lyrics.
-Eat a healthy diet and exercise daily. Take care of the quality of your sleep.
This will not only improve your focus, but also your productivity.
But the most important thing:
Your happiness does not depend on something external. The final goal should be motivation, but it's very important to enjoy the journey and be grateful for reaching small goals.
Your happiness does not depend on something external. The final goal should be motivation, but it's very important to enjoy the journey and be grateful for reaching small goals.
If you liked the topic of the thread let me know in the comments and in the future I will comment more deeply about it.
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