Nurse Julyn: Three Cardinal Rules
Three Cardinal Rules in Trading
When I started GUT, dun ko nakilala mga candles at pano magnavigate sa chart. Kahit support and resistance di ko alam. Everyday magscreen kami then discuss ano maganda bilhin. Next day EOD(End of the Day) bili kami din monitor after..unang stock binili is IMI. Tapos bigla naggap up! Hahaha gain agad! So ang saya lang..buenas dba? But then may taga bantay kami! Always checking our emotions! That’s when I understood the cardinal rules in trading. It is there to protect our psychology and to develop the right attitude to become a successful trader.
First rule: GUT time dun ko natutunan not to look back after na sell. This is meant to protect our minds from our own selves. Ang feeling ng guilt of selling early when nataas pa sana ang stock will hunt you emotionally..this will be reflected on your future trades. It will leave a mark and will creep up without us knowing it. In the same way, the feeling of having a great psychic ability to have sold a stock at the best price before it dipped will leave you a feeling of expecting too much sa market to the point of getting blinded with the possibilities of failure. At this stage, whatever the result of your trade will affect you negatively in both ways. You won’t attain a stable and neutral state of mind with those thoughts lurking behind you—rooting from the deepest core of you.
That’s why we need to protect and nurture our minds with the correct mindset for us to be more stable and rational. This affects us not only in our trades but also in how we handle things in real life. Even when life seems to be very difficult, we don’t look back para panghinayangan ang mga bagay na hindi natin nagawa or mga nagawa natin. By doing so, you will get crippled by the shadows of your past. Instead, stand up each time you fall and think what can be done going forward…again going forward and not looking backward.
The second cardinal rule is not to get hyped or FOMO. We are capable individuals and responsible for our own actions. People will always have their opinion but in the end, it is what you do or decides that matters. And take note, those people will never help you out in times of crisis. Why? Because they are not responsible for your own actions!!! So in trading, when you listen to reco and hypes, your decision-making is already tarnished with feelings of having and being one with the group. It will create questions and doubt in yourself as to why you are not seeing what others have seen. It will also greatly influence your decision-making to the point of dependence. Getting such bias is the easiest way to fail. Yes, listen to recos and hypes is the best way to become the worst trader. Why? Because you are not allowing yourself to study and analyze what you see in the charts. You don’t allow yourself to grow and but instead become parasites to others. If you’ll think of it, people who create hypes and recos already have a disturbed mind. They meant to validate their own opinion by steering up others. So, listening to more uncertainties (recos) will only create more turmoil of insecurity within you.
Thus it is best to stay away from hypes but to study and analyze charts subjectively and learn. This is the best way for you to learn and earn in the long run.
The last cardinal rule is to stay away from the market when you have no stock to monitor. Open your ports only during EOD, if you have filtered your stocks before the start of trading hours. Of course, mind your own business lagi. If la ka hawak, laka paki ano mangyayare sa market. Mas mapapahamak ka if ikaw ay isang ochocherong palaka kasi malaki ang chance na mafomo ka! So why expose yourself to temptations when you can shield yourself from them? Find a hobby, watch movies, play games, do your gardening or go out and shop to make yourself busy and divert your attention. Otherwise, your mind will always tempt you to open your ports since at the back of your head you have the strong desire to recover your loss or just have the feeling of excitement to engage in such trades.
You are yourself’s best enemy. And the best way to recover from this is to recognize the problem, make up your mind on what you really want to become, and work on it. Focus on your goal and how you can attain it.
It would be better to protect and nurture yourself until you develop that strong disposition of self-control and discipline. The journey of attaining such self will all depend on our experiences, our learnings, and our reactions to such events. In saying this, whatever we do during our journey will always affect who we are in the future. So as early as now, as we are still honing our skills, we need to protect and nurture our psychological minds and develop the right attitude to become better in our trades.
TD PAMANA TRADING BOOKS
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