A thread on emotions in trading, with tips on how to manage your emotions

If you are NOT taking a setup even though it meets all the criteria if you would typically take, it is probably based on fear. Make a physical checklist to counter this.

If you are looking at a setup and it checks every box, take the trade. You have a system for a reason.

If you're TPing too early without a technical reason, it could be a mix of fear and greed.

Something I've done is closing my exchange or chart, and trusting the setup, checking it every now and then just to manage, but don't stare at it.

If you're moving your stop or not cutting a trade when you were planning to, you're hanging onto hope that it'll reverse.

This is how you get down BIG on trades and become an investor when it was supposed to be a daytrade

Same as above - close your exchange and trust the setup

If you're risking too much on a trade because you're trying to "make it all back in one trade" or "get rich quick",

set a standardized risk amount, write it down, put it on a sticky note on your screen, and stick to it.

Another form of greed is moving your TP because you think it'll go further than you originally planned.

A way to mitigate this and still catch some of the move is set rules to close a certain % at each of your targets, and maybe trail a stop for the remaining 20%

If you enter a trade that doesn't meet your rules, you're trying to create something that isn't there. This is more greed/hope.

Physical checklists help a lot with discipline. Only enter if it meets the checklist for your trades.