Controlling emotions is just as important as making a profit and doing the right analysis.

For example, what I’m feeling right now. I currently have a loss this month of -2% of my deposit. It’s not much, and I don’t regret anything because I know I’ve followed my plans and adhered to risk management. However, it’s still unpleasant to see a negative balance—we’re all here to make money.

Right now, I have a trade in one of two states: either I can take a small profit and partially reduce my loss, or I’ll hit my SL, and my loss will increase by another half. Thoughts like this can cause doubt, worry, or fear for many traders.

I always tell myself, I don’t know whether I’ll close this month in profit or loss—no one can know that in advance. But I do know for sure that this month I’ll act according to my plans and rules.

That very thought, which has clarity, eliminates my doubts. Make your plan, trade your plan, be patient, and remain flexible in your biases. Be quick, and don’t be afraid to admit mistakes. There is no trader who always makes winning trades, but there also cannot be a successful trader who doesn’t know what they’re doing and why. Make mistakes, learn, and over time (some faster, some slower), you will see where you’ve improved.