Psychology of the Trader
Remember
conviction isn’t formed when price is going up.
that’s just confirmation.
real conviction is built when price goes against you
and you don’t panic.
drawdowns force you to confront your reasoning.
why you entered.
what would invalidate it.
whether you actually believe in the bigger picture.
most people only want conviction after price proves them right.
by then, risk is already higher.
sitting through drawdowns teaches patience, sizing, and restraint.
it hardens decision making.
when the next expansion comes,
you’re not chasing.
you’re positioned.
that’s how conviction is earned.
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Psychology of the Trader
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