[9 O'clock Minute-by-Minute Scalping] What matters is to have a mental shock absorber

Good morning. I am An-chan.

Today is a discussion about mindset.

Mindset tends to be surprisingly neglected, but surely when you first start FX

you become concerned with the method, so that is understandable.

However, in the end, the people who survive are the ones who can control themselves.

No matter how excellent your method is, if you cannot control yourself, it is meaningless.

Why is that? …

You end up taking a big hit no matter what, don’t you?

Even one single stop-out can cause a massive loss. It wipes out all the profits you’ve accumulated bit by bit in one day.

The famous position-positivity disease symptoms, right?

Why does this big loss occur? It’s because there isn’t enough a “shock absorber” for the mind, I think.

In short, an unexpected loss triggers mental turmoil, causing you to repeatedly make trades without any real rationale, contrary to your intentions.

So, I always say before entering, “I will enter with a resolve.”

And the shock absorber… I always think of the minimum possible and hold a position.

To put it simply, I enter without expecting to win.

By doing so, I can make my mind realize that taking losses is a normal action.

Taking losses is very frustrating. Because the time from opening a position to closing it is wasted.

In hindsight, if I hadn’t taken any positions, I wouldn’t have incurred this loss.

But at the beginning, I couldn’t imagine such a thing.

I hope to make money...

I image that I hope it will extend to that point...

However, when I hold a position, I am always thinking, “How many pips until the stop?”

If I always count down to the stop, I am always aware of the stop, so even if I actually stop out, I don’t mind.

A day of inevitable losses and stop-outs. This is a necessary expense. To increase funds, you need to back off a bit and gain momentum.

Otherwise you won’t be able to go higher.

Well then, today’s trade results.