Stoics

I don't think stoics were involved in trading, but they had extensive knowledge about life. I propose adopting a stoic mindset when it comes to trading, especially by focusing on negative expectation and negative visualization. You can discuss this topic further with ChatGPT to explore it on your own. Now, let me provide a brief explanation:

So, instead of doing exactly what everyone else does

that is to expect your next trade to deliver big time

or to dream about a big runner

or huge profits in a day or a week

or to trade back all your recent losses with one over-risked entry -

try to do something that's completely different.

And by the way, that's a great overall approach to trading:

find what doesn't work, and do the opposite (that's one of the main principles discussed widely by great Tom Dante).

To do this

when you come to the market, visualize and expect nothing🙀. Literally tell yourself this:

1. I showed up to the charts just to observe and analyze them (by the way, did you know that speculation, from latin "specio", means observation, with no judgement)

2. I expect my setup to NOT show up today, and so today I'm not expecting any trades to have case you'll find your setup, continue to keep the following negative mindset:

3. I followed my rules and entered a good setup, and I will follow my management rules, but right now I expect this trade to just end up as a loserIf you were able to protect at breakeven later, expect it to hit your breakeven and not your take profit.

For beginners

this all can sound stupid,

even somewhat like a paradox🙄,

but that's only because they don't understand how trading works.

And trading really works in a way,

that having LESS trades brings you MORE profit.

Even if you're trading 1 sec. chart, and I'm not joking here.

This mindset practice I described above allows you to protect your emotional capital and also enter setups with a better quality.

I will talk more about this and also why so called "overtrading" is actually pure gambling,

and how it destroys people's accounts in the next post.

Summery,

most traders fail to achieve success in the stock market due to various factors such as lack of knowledge, poor risk management, emotional decision-making, and inadequate trading strategies.

By taking actionable steps to educate themselves, develop a trading plan, manage emotions, and implement effective risk management, traders can overcome these challenges and succeed.

The benefits of successful trading include consistent profitability, financial stability, wealth accumulation, confidence, peace of mind, and personal growth.

Steal my Easy & Simple 4 Step Strategy to trade with confidence and clarity, this get’s results like crazy Trade Mastery 101

It's time to break free from the cycle of failure and embark on a journey towards trading success.

- mr sicko trading - Stephen