After tumultuous and emotional periods marked with big losses, it’s not surprising that some exchange traded fund (ETF) investors might have a little trouble making that next move. Here’s how you can overcome that “stuck” feeling.As many traders know, there are certain states of the mind that can keep you from going forward. Whether it is going ahead with a trade, or selling a dead-end position, people can get stuck in that state, waffling, but never moving.
Van Tharp for Trader Planet has some simple ways to get through the frozen state and go forward that work in any scenario, even investing. We’ve added in some of our own thoughts, too.
- The more stuck you are, the harder you try to get out of the state and the worse the situation becomes. When it comes to trading, turn off your gut and focus on what the markets are saying. Is a position above its 200-day moving average? Then consider it.
- If you’re feeling stuck in your objective of becoming a great trader, try doing the opposite of your instincts and make it okay not to take a trade if you’re really not feeling good about it. Use the energy and time to work on your emotions.
- Focus on what you want rather than what is stopping you. This way you can be open to resources and see possibilities. What are your goals? Then proceed according to what you ultimately want.
- Focus on being what you want to be. Focus on how a great trader feels or their state of being, and then move forward. Trade with confidence.
- Having trouble hitting the “buy” trigger, even though all signs say “go”? Research your position and examine your reasons for taking it. Finding fundamental support can make buying easier.
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The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.