Got a late start this morning, so I decided to take a breath and watch a trading video or two. I recently came across the Peachy Investor channel and I have to say this lady gets it! I know, I know, there’s a lot of “experts” on YouTube. But, what I like about her is her mental strategy.
My largest shortcoming is not accepting I made a bad trade. I convince myself it’ll turn around if I just move my stop to the next support/resistance level. Then, when it approaches that, I look for the next level – and the next – and then I’m at the point where I may as well just remove the stop because my account has little or no value left.
This video from Peachy Investor describes it to a tee and well worth the look!