In Trading, ruthlessness does not mean being evil or immoral. It means being cold, decisive, and uncompromising with your own emotional weaknesses. The market has no mercy, so you must be ruthless with yourself to protect your capital.
Here are 5 aspects where you must be ruthless
๐น This is the rule of survival. Many traders blow up their accounts simply because they pampered a losing position.
When the price hits your Stop loss, cut it immediately. Hope in trading is poison.
Better to lose a finger than an arm. Do not let a small scratch turn into a fatal wound.
๐ธ The market is always right, only you are wrong. The bigger the ego, the smaller the account.
When your analysis is wrong, admit it instantly. Do not try to revenge trade by adding to positions or holding onto losses.
No one cares about your analysis skills; they only care if your PnL is green or red.
๐น Flexibility is good, but impulsiveness is the enemy of professionalism.
If the chart does not show a signal according to your system, ruthlessly turn off the screen. Sitting tight is also a position.
Do not enter a trade just because you have itchy fingers. The best traders are those who can endure boredom the best.
๐ธ Holding profits is harder than holding losses, and greed often turns a winning trade into a losing one.
When your target is hit, realize the profit. Don't dream of selling at the absolute top.
Unrealized PnL on the screen is just a virtual number. Be ruthless in taking profits to make it real money in your pocket.
๐น Social media, news and groups are double edged swords.
Never change your trading plan just because you heard someone shilling online.
If you trade based on others, you will never understand why you won or lost.
To succeed, you must become a machine. Emotions, hesitation, and false hope are simply food for the sharks in the market.
This article is for reference only, this is not investment advice. Please read and consider carefully before making a decision.
