How I TRY to keep my emotions out of my trading using VISA as an example
The biggest struggle I have when I trade is my emotions . There would be constant temptations coming from the fear of missing out (FOMO). Note that there is a difference between trading and investing. Investing.com has a great explanation of the difference: Investing takes a long-term approach to the markets and often applies to such purposes as retirement accounts. Trading involves short-term strategies to maximize returns daily, monthly, or quarterly. Investors are more likely to ride out short-term losses, while traders will attempt to make transactions that can help them profit quickly from fluctuating markets. With the above definitions, I would like to share how I ( try to ) manage my emotions coming to my trade (not investment). When I was a younger trader, I rely largely on technical to trade. Being aware of my weakness, I started to develop a process for me to better manage my emotions. My Trading setup My trade setup will be using 2 charts - 1 Day chart as t...