Can You Talk Freely About Stocks?
If you can’t, you shouldn’t be trading them. I made the mistake of jumping into the stock market years ago without learning to talk openly about made trades. I kept things close to the vest.
If my trade lost money, I was a loser so let’s not talk about it. If I made some money, it wasn’t good to talk about because the guy next to me made more. It was a never ending loop of negative self talk, lessons lost, and missed opportunities to grow and improve with others.
Only a month ago did I finally open up and discuss my good and bad trades. I also realized that stock trading should be like blackjack. I finally separated me as a person from my portfolio moves. Now my attitude toward stock trading is more objective and healthy like someone returning from a fishing trip. Good or bad results from my trip had nothing to do with me as a person. The same can now be said about trading. In the past, every trade was tied to my self-esteem and “honor”. Needless to say, my trading prowess had much to be desired. But now at least I am taking steps in the right direction.
How do you separate your stock trades from yourself?