Test Your Impressions
"From the very beginning, make it your practice to say to every harsh impression, 'you are an impression and not at all what you appear to be.' Next, examine and test it by the rules you possess, the first and greatest of which is this — whether it belongs to the things in our control or not in our control, and if the latter, be prepared to respond, 'It is nothing to me.'"
— Epictetus, Enchiridion
Today's meditation is another reminder never to act on impulse or from a gut feeling and this is certainly the case when we think of trading! It is very similar to what I touched on yesterday; research must be completed for every trade that we enter! We have rules/criteria for our strategies that must be met fully, before we get involved.
If we act on impulse or gut feeling, we are taking unnecessary risks and can end up in a world of pain! Don't take on trades that you haven't fully researched; stay patient and disciplined at all times and you will slowly but surely progress as a trader, with your bank protected and growing.
Trust in your strategies and always verify that every trade meets the rules/criteria of those strategies, 100% of the time.
This is the way to stay consistent and grow more and more confident on your trading journey.