{"id":11320,"date":"2016-03-30T15:04:30","date_gmt":"2016-03-30T22:04:30","guid":{"rendered":"http:\/\/www.tradingheroes.com\/?p=11320"},"modified":"2022-08-11T22:18:56","modified_gmt":"2022-08-12T05:18:56","slug":"trading-preparation","status":"publish","type":"post","link":"https:\/\/www.tradingheroes.com\/trading-preparation\/","title":{"rendered":"5 Trading Situations You Must be Prepared For"},"content":{"rendered":"

When you first get into trading, there is only one situation that you think<\/em> you are prepared for…making a shit-ton of money.<\/p>\n

Dolla Dolla bills y'all. <\/em><\/p>\n

But are you really ready?<\/p>\n

I believe that most aspiring traders are not ready to make the money\u00a0that they are\u00a0dreaming of.<\/strong> Mostly\u00a0because they\u00a0aren't mentally prepared for it.<\/p>\n

\"Trader<\/p>\n

Another reason is that there are other situations that we are not equipped to handle yet, that get in the way of making aforementioned shit-tons of money. So in this post, I'll get into the five situations that you have to be mentally prepared for, in order to have the best shot at success in trading.<\/p>\n

Keep in mind that many times you will have to experience a situation to really internalize what I'm talking about. But if you are more aware of what is going on, then you have a better shot at fixing it quickly.\u00a0<\/strong><\/p>\n

1. One Losing Trade<\/h2>\n

Alright, let's start small. You may think that one losing trade is no big deal.<\/p>\n

…and to some people, it might not be.<\/p>\n

But most of the time, one losing trade is much more detrimental to your trading psychology than you think.<\/strong><\/p>\n

How many times have you done this…<\/p>\n

Your stop loss gets hit and you get a little sick feeling in the pit of your stomach. You check your P\/L statement, to see how much you lost.<\/p>\n

Even if your loss was within your normal risk parameters, you\u00a0wonder how you could have messed up that badly.<\/p>\n

So stupid…<\/p><\/blockquote>\n

…you tell yourself. You search for things you should<\/em> have done to make that trade a winner. You replay that trade in your head for the rest of the day.<\/p>\n

When you find yourself doing this, stop right there. Take a deep breath.<\/p>\n

Then review this checklist:<\/p>\n