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Hi there,
My biggest challenge is resisting the urge to try and legitimize my emotional responses as other than emotional responses. For example, I take a position and the stock drops immediately. Day 1 is explained by volatility. Day 2 triggers intuition to sell, but I “know” my choice is right so I stay in. Day 3 is a “red day” in the market so the drop isn’t about my decisions; it’s just the market. Day 4….well my decisions were correct so there’s an endless stream of “rational” reasons that allow me to preserve my decision choice while losing money. Now I realize two things 1. It was always about fear, hope, and ego, 2. None of it matters in trend following because, if I had been trend following, I would have had a plan and been out on day 2. Otherwise, a lesser challenge is mining the work of trend following for how to start with smaller account.
Cheers,
Mark
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