Affirmations to Manage Psychological Hurdles

  1. Managing Greed

My objective in trading is not to be right or wrong but to manage my risk capital with a modest expectation.

2. Managing Fear

I will welcome my loss because I want to be the best loser and a long-term winner.

3. Managing Hope

Even when I lose money today, I will expect to have a good day, since I have followed my trade plan, which has a long-term positive expectancy.

4. Managing Pain

As a trader, I know my life will be a world a pain. When I lose, it will hurt. When I win, I will think about the missed opportunities, and it will hurt. When I am not in the market, I will believe I am missing out on the next big move, and it will hurt. When I investigate new ideas only to discover they don’t work, it will hurt. I know that maximum adversity exists to fill my trading experience with disappointment and pain. I know its intention will be to diminish my risk capital and stop me from trading. I know maximum adversity exists, and I know it’s potential. I will endure its pain. I will persevere. I will succeed.

Source: Penfold, 2010.


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