Titan Path #8 - How Can We Avoid Getting Chopped Up By The Market?

Good evening, Titans!

Intention and Reflection

This week, I've been thinking about random trades. What I mean by random trades are trades placed... just because.

I heard about it on... or I happened to glance at something and thought it was good idea and just made a trade. Another way to say it is a trade made without a plan.

We probably do this more than we realize and when it works out we feel like we did trade with a plan. We made a good choice, THE RIGHT CHOICE. We were right.

It feels good to be right.

But when one of those goes against us, then we feel bad, and we feel like we need to pivot, to do something else instead.

I would say even when we have a plan, and we follow that plan, when the plan goes against us, that is maybe multiple trades go against us, we feel like abandoning the plan. We must have made a bad decision with that plan and need to do something else. That plan is dead to me, moving on.

And there is no shortage of new plans to try. New strategies, new technical indicators.

I know so many people either are going through or have gone through it, I went through it as well.

Every single option strategy under the sun. I've bought it and sold it. Multiple times.

Ichimoku Clouds? Yes, I've done those too.

Some join Tiblio seeking new plans, new things to try, and are baffled by Tiblio because we don't have many of those. What we do have is data that supports a small number of known strategies that we believe can lead to profit over a long period of time. We have reasons for believing those strategies work grounded in mathematics and probabilities. We also have tools that nudge ourselves into thoughtful, diligent and strategic trading practices.

The best defense against getting chopped up by the markets is very simple. Reflect on your decisions made this week to recognize behaviors that you would like change to help drive your success.

We work hard to establish our trading strategies that work for us and bring us greater returns. Avoiding unnecessary losses from random trading decisions is key part of that success.

I hope that you're week ended green!

Kevin