The itch to take action A common phenomenon in traders, both | Hashed Plutus (Crypto Signals, Technical Analysis, Education and News)

The itch to take action

A common phenomenon in traders, both noobs and seasoned traders, including me.

When the market gets shitty, or our trades aren't moving much, we have an itch to close it. No, no, don't confuse this with the gut feeling. The gut is a strong feeling. Itch is momentary.

This often leads to the premature closing of trades. This could be disastrous in the long run.

How to control the urge?
The first question is if your trades make you so restless, you're probably risking more than you could afford to lose. A good RR strategy strictly followed will help you out.

The second is to get off the screen. I saw a massive difference when I deleted the trading apps from my phone. I'm guilty of using the browser sometimes, but the hurdle stops me from checking my trades significantly.

You should probably trade on your laptop or desktop and get off it once you are done analysing or placing orders. This saves you from watching the small price changes and focus on your idea.

Lastly, try and meditate. You'll probably laugh this one-off, but even a few minutes of mindful rest is excellent to keep you sane. Perhaps after every meal, take about 10 minutes to let your mind wander. I don't think of anything specific. This allows you to cool off from the wild trading industry.

Keep yourselves healthy.

We have already picked up stunning entries on our trades. Just don't let the itch make you close the spot positions you opened.