When in doubt...DON'T

What do you see in the above picture? Is it a Picasso painting? An abstract modern art ? An graffiti of some unknown urban artist? A psychedelic vision of a mad man? No....its how I see my trading charts when I'm in doubt and totally confused.

"When in doubt, do without"

When you’re in doubt, and the decision might as well come from flipping a coin, then you are better off sitting on your hands and re-evaluate your trades. If you are being pressured into taking a trade, either by yourself, by someone else or from news on TV... but are unsure or doubtful of weather or not you will regret it, then don't do it.

"better safe than sorry."

In life as in trading, we are always bombarded by doubts...Should I? Shouldn't I? Will this stock go up? Will it get hammered? Am I missing the boat? ....etc

Doubts are not always bad, they forces us to take time and to evaluate our next move. But when doubts gets the best of us and fears kicks in, then we are much more vulnerable to commit mistakes.

"Doubt kills more dreams than failure ever will." Suzy Kassem

When it happens, one of the best thing to do is to close your eyes and take a deep breath, try to let go that stressful feeling slowly and calmly, you can even take a walk and let go of all that bad energy. But don't let doubt stop you from fulfilling your goal.

Remember, the market is always right, listen to what it tells you and stop letting your emotion take over, otherwise you will sooner or later regret it. Take time to work on your process and trading plan.

"Doubt is not a pleasant condition, but certainty is absurd." Voltaire

As trader, we know that there's no certainty in the outcome of a trade we took, we can only follow our process and manage our risk.

I wish you all a Happy New Year....all the best for 2020!

VTL