Don't Unintentionally Hand Over Your Freedom
"If a person gave away your body to some passerby, you'd be furious. Yet you hand over your mind to anyone who comes along, so they may abuse you, leaving it disturbed and troubled — have you no shame in that?"
— Epictetus, Enchiridion
So how do we compare today's meditation to trading? It all boils down to becoming more disciplined with our mind (having the correct mindset).
When we stick to the rules/criteria for our strategies, we are trusting the stats/data that we have available for every trade that we get involved in. We know this works long term for us if we stick to our rules. This is where the patience and discipline kicks in! We need to have zero distractions when we are trading and we need to concentrate fully on every trade. Forget about the noise from social media platforms and stick solely to the plan 100%.
We must be less interested in what others are doing and NEVER jump on other people's trades without doing our own due diligence, to see if this potential trade fully meets our rules/criteria. Never rush into a trade; there are plenty more to come if you miss one!
By doing this we are taking full responsibility and ownership of our own trades and if it is going against us we will manage our controlled loss swiftly and before it becomes unmanageable. Don't end up hoping a trade will turn back in your favour. If you are in the land of hope, you've left it too late to exit for a controlled red!
Maintain the control over your mind and "don't unintentionally hand over your freedom" by blindly and impulsively jumping on the trades of others.
If you can stay patient and disciplined, you've got this!