Afternoon mate,Hi Lee
I have a problem.How do I solve it .This is a serious question.
Every time I go shopping I will impulsively buy bargains , fill up with a box of shaving creams , buy one get one free (I will load up ) and generally extravagant on ordering buying.
That is a nice trait to have , if you use all these goodies.This extravagance carries on subconsciously on live accounts , within minutes all the emotions and stress responses start , as larger position sizes are put on.
If I am sitting for the next entry , in front of the screens and waiting , I might impulsively enter a trade of 5 times normal risk allowed.
This is my only flaw in trading .How do I overcome this?
Buying the bargains and stocking up on usable items is a fantastic trait to have. I also do the same and is a savvy move. However, there is a huge difference between a savvy investment and impulsive buying. That would be your negative link to trading.
It's easier said than done but sit on your hands.
Take this with you. If you see a good trade, take it and see it through. Ignor all the other trades you did not have valid reasons at that time to take. Do not follow these ones. The reason being is that just like a gambler, we'll remember the trades we should have taken but didn't and forget the ones we didn't take and shouldn't have. In these cases, ignorance is bliss. It also keeps you sane and limits change/alteration to your attitude.