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Don't let past trades influence current decisions from "summary" of Trading in the Zone by Mark Douglas
The tendency for past trades to influence current decisions is a common pitfall for traders. It's easy to fall into the trap of letting prior experiences dictate our actions in the present moment. However, this can be a dangerous game to play. Each trade is an independent event, and should be treated as such. When we allow past trades to cloud our judgment, we are essentially bringing emotional baggage into the decision-making process. This can lead to irrational choices and poor outcomes. It's important to approach each trade with a clear mind, free from the influence of previous successes or failures. One way to avoid falling into this trap is to focus on the present moment. By staying mindful of the current trade at hand, we can make decisions based on the mos...
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