Hi, I'm Daniel, and I'm an emotional trader...
Happy Monday, lovely friends. See what I did in the title there? And in your early phases of day trading, the sooner you can admit this to yourself, the quicker you can overcome day trading's biggest obstacle. Unless you're an AI program (we probably have a few of those in the group too), you're at the mercy of the very human reactions to fierce competition. But did you ever stop to wonder if this really is a competition? Well actually it isn't. Let me remind you why. This is a SIMULATION. Did you hear me? It's just a SIMULATION. We simulate an evaluation phase, we pass those simulated accounts, and then we trade what feels like real "performance accounts", but in almost all cases, those are also just a (yep you guessed it), a SIMULATION. Does that sound like a competition? Nope. So why does it still feel like it? Well, we're still simulating trades against real market activity, which is inherently dog-eat-dog. And to make it worse, we are competing with our own emotions that the markets trigger. Those emotions are false triggers, and that is what is not real. Understanding this can be your first step toward letting your emotions and fears subside. I started very emotional, blew EAs and a few PAs, but now after mostly dampening my emotions, I have 10+ payouts under my belt. I still trade but 3 micros per trade max, due to the ongoing training of my emotions, but that's just one path to addressing that universal problem that we have as humans.