Good Riddance Ego

From Ruth Roosevelt

Not putting in stops. The ego doesn't want to be proven wrong.
· Hesitating before putting on a trade. The ego wants reassurance before it begins.
· Overtrading. The ego wants to prove itself big time.
· Getting stuck in a trade. The ego has intertwined itself with a trade and is holding on for dear life. It cannot cut out. The ego doesn't want to be wrong.
· Adding to a losing trade. The ego digs its hole deeper in a massive effort to crawl out.
· Grabbing a profit too soon. The ego wants a pat on the back.

Ok so I gave this person credit for making a good analysis on how damaging this could be. I cut a winner somewhat short to validate my ego today! I have routed this habit of adding to losers from my trading over the past 2 sessions, and it worked out well yesterday. I actually improved from having taking the sting of having my stop loss triggered on some losing trades yesterday.

Overtrading

Yesterday I overtraded. I promise to keep my round trips lower than 12. I feel that I should be trading enough to be profitable again. The issue I had was that I wasn't willing to cover when my open p/l was greater than my losses on some of the trades that went sour. It seems that just that alone would have made the day a good one. So improvement for me meant learning how to cut down on that huge volume when I wasn't on the right side of the trade for 2/3 of the day.