Riko

Looking back, I think the single biggest mistake I made was my inability to sit out of the market. Not necessarily entering multiple times a day or repeated entries on a single trade idea, more that I couldn’t go days without a trade. I felt the need to at least have a crack at the market more days than not. I didn't miss good trades because of this, but it meant I would constantly be taking sub optimal trades alongside the optimal ones, which meant I was costing myself EV for the sake of wanting to be in a position. As stupid as it sounds it would also cost me in the form of cutting winners too soon, out of fear for not being able to get into another position the following day. I had to wrap my head around the fact that a day not executing wasn't necessarily a bad thing. I removed time from the equation. It was more a mental shift than anything else, to train myself to be able to sit out of the market for multiple days at a time and not being bothered by it at all. tldr: Ignore time. This is one of the very few businesses where doing more doesn't equate to more money, you have to rewire your brain.

what absorption looks like: - increased selling - price unable to make new lows passive buyers absorbing aggressive sellers example ↓