– You realize that you have a tendency sometimes to cut before it touches the stop loss?
– How many of those trades have you actually done that already right now? Based on those 30 trades?
– Many times.
– Many times. So all of 30 trades, roughly 10 you have cut before it even touches your stop loss?
– Yeah, yeah.
– Okay. Out of those 10 trades, and that’s the reason why reviewing is so important. Do you actually go back and see whether those 10 trades that you cut prematurely, did they actually rebound from that? Did they even go to the stop loss point? Or did they actually recover and go through your profit? Have you taken a look at it?
– Yeah, actually I took them most of the times it went in the same direction, which I have the bet.
– Oh, sorry. So actually most of the time it actually went in the direction of your bet?
– Instead of going all the way to the stop loss.
– Okay. So you’ve got to answer for yourself, right? It means that the reason why you are cutting a premature stop loss right now is not the most ideal thing to do, at least based on this 30 trades that you have done.
– So, which means that this actually, and so I suppose this will actually help convince you that hey, I got to be disciplined. I got to follow my stop loss.
– I got to trust my own stop loss. If he doesn’t touch my stop loss, I shouldn’t get up.
– Yeah, definitely. I have to follow that.
– Yes. So the next time, if the same situation happens again and you are worried: “Hey, I think I should cut my stop loss now, even before he touches a stop loss.” Then you’ve got to remind yourself, go:”Hey, I’ve already done my journal. I’ve already checked that most of the time if I get up pretty much early it rebounds and go back in the direction of my bet again.” So this is something that you have to keep on drilling into yourself so that you can remove this issue.
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