Lesson 10 of 14 · Free
Trading psychology: your real opponent
FOMO, revenge trading, overconfidence — and the routines that neutralise them.
Most traders lose not because their strategy is bad but because they don't follow it. The chart is not your opponent; your own impulses are.
The four account killers
- FOMO — entering late because you “can't miss it”. Cure: if you missed the entry, you missed it. There will be another setup tomorrow.
- Revenge trading — trading bigger after a loss to “get it back”. Cure: hard daily loss limit, then close the platform.
- Overconfidence — increasing size after a winning streak. Cure: fixed 1% risk no matter what.
- Hope — removing or widening a stop. Cure: stops are set with bracket orders and never touched.
Routines that work
- Pre-market: mark levels, write down the scenarios, decide what you'll do in each. Ten minutes.
- Checklist before every entry — use ours on the Tools page.
- Post-trade: journal entry within 5 minutes — including how you felt.
- Weekly review: which rules did you break? That's your homework for next week.
ReframeA loss taken according to your plan is a good trade. A win taken against your plan is a bad trade. Grade yourself on process, not outcome.
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