◎ Do your best while assuming the worst! What is the kingly approach to mental management? ~ Protecting the heart is more important than protecting the funds ~

Tengen Mental Management.15

First of all, mental management focuses on how to prevent mental collapse and unhealthy mental states rather than protecting funds.
Are there exchanges like, “How much was in there? I’ll cover the money you lost.” when someone drops their wallet?
Even if so, I think it leads to a bad outcome where something remains.
To help find the wallet, people cooperate in various ways, go to the police box together, and even if not found, they later suggest making the wallet harder to lose or give a wallet as a birthday present, so it’s about “forgive the bad thing and vow not to repeat the same mistake.”
In mental management, it’s not about pushing through with minor wins, trading slumps, or getting lost in the market just to win; it’s about sharing hints and ideas learned from failures and doing difficult things, so that both gains and losses in money are accepted, and by noticing it, you become a trader who can increase money.

You can earn money again later.
A collapse of the mind or a damaged mental state is absolutely bad.
With FX, it feels like you lose more than money.
On the other hand, FX also lets you earn more than money.
Trade to live, support a family, regularly meet friends at off-sites, and discuss trading while dining together.
Trading as a job also allows you to take a break on your own judgment and go to a baseball game with beloved friends.
For that, you plan for the worst—total capital loss—manage money, and discern when to go on and off to strike.
My worst-case scenario is not being able to support my family, so my simple thought is “I should get a job.”
To ensure employment isn’t hard to obtain, networking is important, and even when leaving salaried work, living as a full-time trader is also based on a certain readiness, but…
Ultimately, it leads to mental management.
Today’s talk may not connect directly to trading, but it’s a very important way of thinking.
If you break it down into concrete steps, …
◯ Assume the worst with accidental price movements and place a stop loss
◯ Prepare for the worst with a full retracement and place a stop-loss block
◯ Technically you want to enter, but the worst might go beyond one more level, so consider entering with maximum drawdown
◯ Even if you think it’s good and enter, if you get caught in the worst range, you could dive into important indicators, so the best is to stay no position and pass

and so on…
It is important to plan for the worst and do your best.
I will continue to share mental management from various angles.