Be Wary Of What You Let In
"Drama, combat, terror, numbness, and subservience — every day these things wipe out your sacred principles, whenever your mind entertains them uncritically or lets them slip in."
— Marcus Aurelius, Meditations
When we compare today's meditation to trading, it is a reminder that we need to shut our minds to the noise on social media and other people's tips.
We must make sure that we stick to our own plan 100% and take ownership of our own trades. Avoid getting distracted by other peoples' trades and concentrate with a positive mindset on our own strategies that we are getting to know better and better, the more we practice them.
Don't allow yourself to take a backward step by jumping on a trade that you haven't researched and you don't even know if it meets the rules/criteria for your strategy! If it goes wrong you will be furious with yourself for not sticking to your own plan and trades; we all know what happens when anger kicks in when we trade! Revenge trading and trying to instantly get back what we have just lost, which can easily turn your loss into a much bigger one! We need to protect our bank, so we are ready to fight our next battle!
Other peoples' trades may appear on social media or in trading groups etc. but you don't have to jump on them! As the last line of the meditation says "You don't have to let them into your mind."
Stick to your own strategies and shut everything else out of your mind! "Be wary of what you let in."