Pre mortem analysis is a great idea. I will give it a go. Another way to defuse overconfidence is the old schoolteacher’s “switch sides and debate against yourself” trick where you force yourself to weigh up why you might want to take the reverse of your intended trade.
Yes! Essential questions before entering all trades.
Also, planning ahead for exactly what to do if the trade doesn't work out helps reduce anxiety.
For example, "I'll step away and go for a run, then I'll patiently wait for the next level that I already have identified."
This is called downside planning
100%, that's the best way to manage expectations!
Thanks Sara, I will add these three questions to my charts.
Wonderful!
🙏⚡
Pre mortem analysis is a great idea. I will give it a go. Another way to defuse overconfidence is the old schoolteacher’s “switch sides and debate against yourself” trick where you force yourself to weigh up why you might want to take the reverse of your intended trade.
That’s indeed a great technique that helps see flaws in the current perspective. Thank you Marty!