How Psychology Can Impact a $8,000 Trade Result!
I hope everyone had a great long weekend and is ready for fall. I’m back from Burning Man, and this year was quite interesting. The entire desert got flooded, and 72,000 people were stuck. If you want to know about my experience, check out my post on LinkedIn and let me know what you think.
Today was a fascinating day. Two experienced traders, Brian and I, took the same trade using a strategy called the 9/20 Reversal, which Brian originally developed and mastered. However, Brian exited the trade with a small loss, while I made over $8,000.
Why did two experienced traders have different results?
The answer lies in trading psychology. Brian had a different mindset than I did. He was having a good day and was anxious about losing his early profits, so he exited too quickly. On the other hand, I hadn’t traded for 8 days and was more aggressive to make up for the missed trading day opportunities. It turned out to be an amazing trading day for me.
Trading psychology is the most crucial element of trading, making the difference between winners and losers in the long run.
If you want to delve into our thought process, watch our detailed recap here. Feel free to ask any questions in the YouTube comments, and I’ll personally respond.
Ardi, Brian, Paras and I are in Toronto this weekend. We’ll be there from Friday to Sunday, with a meetup on Saturday at 6 pm. Ardi’s presentation is at 4 pm, and we have a booth at Moneyshow until 5 pm. After that, we’ll head to a nearby bar for drinks and socializing. I’ll send the RSVP link tomorrow.
We’d appreciate your support for our presentations!
To your success,