It’s trade time. Let’s do it!
See here for full details on how to identify and trade this setup. And more importantly… why we take it.
And there you were through the whole process, cool, calm and collected.
Ok, maybe not?
More likely, pre-entry, you were consumed with doubt and hesitation.
– “What if it just needs one more push to break higher?”
– “What if a break of the prior candle low is a trap?”
And post-entry this doubt and hesitation is joined by a gut-wrenching tightening of the stomach, possibly even bordering on nausea.
– “Come on. Move, damn it!”
I know you’ve felt it.
I’ve felt it.
We all feel it.
We are not built for this kind of uncertainty. We want it to go away. But it never does.
So what can we do.
Let’s start with an important realisation that I find incredibly freeing.
It can’t go away. And it doesn’t need to go away. With a slight mindset shift, we can reduce its power and learn to work alongside it.
I’m reminded of this old YTC social media post:
Our aim is not to make the uncertainty go away. Our aim is to get comfortable with the discomfort.
And the simplest way to do this is by reducing the importance of each individual trade.
The fear is largely a result of your need to win… ON THIS TRADE.
But when the trade is viewed as simply one in many, the importance is reduced. While a win is great, a loss is fine as well provided the size is contained within appropriate limits. It will easily be overcome by subsequent winning trades.
This is how I view it (feel free to increase the sample size beyond 20 if you prefer):
It’s a slightly different mindset. But one with a whole lot less fear.
Sit with this feeling for 10-15 seconds.
And now this one for another 10-15 seconds.
A novice trader is putting all their hope and dreams into this one current trade. They desperately want it to win to validate their self-worth.
Whereas I’m just trying to find an entry that is worthy of being one in a group of twenty.
I don’t need a winner.
I simply put the odds in my favour. And I take the trade.
One in twenty!
Practice this shift in mindset. It takes time, so forgive yourself your imperfection. And keep pushing forward.
In time you can be ok with the feeling of uncertainty at trade entry. And you may even find that you enjoy it.
Wait… you want to know the trade outcome, don’t you.
Did it win big? Or did I take a loss?
Neither really. A partial win. Then another on a re-entry. No big deal in either case. That’s just two out of twenty.
Then we get the winner.
This is a game of a SERIES OF TRADES. Not individual trades.
Adopt this mindset and reduce the importance of any one individual trade, and a whole lot of the discomfort around individual entries just drops away.