Trade Strategy: Averaging Down

Day trading is not an easy task. It's a challenge each and every day. The upside potential, in my opinion at least, is well worth it all; however, it's hard. What makes day trading so hard is the psychology that goes into it. In particular, just how fickle everything is. Meaning, all it takes is a slight slip up with your emotions and psychology and your day trading strategy can spin out of control in a hurry. I've been day trading for almost 20 years now and I'm still shocked and amazed at how every now and then old habits sneak up on me and cause headaches! The good news is, these events get further and further apart from happening; however, they do still happen and can happen in the slightest of ways. When I reflect back on my experience as a day trader, I've noticed there being four words that come up time and time again. These four words have created many annoyances and heartache. The most challenging aspect of these four words is often times, they will lead you to (seemingly) good outcomes. But yeah… all it takes is one of the situations you'll hear about in this podcast episode to.. well… you'll hear what I mean! I hope you appreciate the transparency of me talking about mistakes and loses so everyone can improve! I'm not the perfect trader and never will be, but if my own public shaming on this podcast can assist you in your day trading journey, then in a weird and twisted way… it's worth it!