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Trading psychology advise

QuestionsCategory: QuestionsTrading psychology advise
Anilesh Lakhtakia asked 4 years ago
Hi Pat, A world of advice and encouragement is needed. I started CAN SLIM style of investing in April after I see a huge drop of my portfolio (40%) from all-time high in Feb. Since then I yet to taste success in the market. Stocks frequently reverting from the breakout and stepping me out. Unfortunately, I missed some of your successful trade alerts like RBLX or QFIN but did not miss the trade alerts that breakout and reverse (LOL) I am seeing my friends who are averaging down and making money while I am still on the same spot. :( Now I kind of develop this fear that if a stock breakout and reverses even a bit I immediately sell the stock not allowing the stock to take a breath and move up. I am putting very narrow stop losses or even the stop loss on by buy-out price on the same day. This leads me to go nowhere as I reduced my losses very minimum (very tight SL) but at the same time gains are also limited in this approach. I do understand all technicals about charting and CAN SLIM fundamental all I need is some emotional and psychological guidance from you as to how to deal with this kind of situation.
1 Answers
Avatar photoOwen Staff answered 3 years ago

Hi Anilesh,
Pat made this video for you:
https://youtu.be/jLyhzQ_1Wg8