Have you ever traded impulsively, only to wish you hadn’t when you realized the losses? In this episode, Somesh discusses how impulse trading can be dangerous, why traders need to keep their impulses and emotions in check, and offers practical tips to achieve that.

In this episode, Somesh discusses:

• What is impulse trading, and what happens when traders trade on the impulse
• How impulse can lead traders to make rash decisions, resulting in losses
• Being the master of your mind, not a slave to emotions, and believing in your strategies
• Strategies for impulse control:
• Being self-accountable and recognizing your weaknesses
• Understanding the market structure and looking to catch pullbacks
• Properly analyzing your trading journals to identify mistakes 

Memorable Quotes:

“To control the impulse, you need to master your mind.”

“You can either master your mind, or you can either be a slave of your mind. If you’re a master of your mind, you will believe in your strategies; you will wait for the trades to come to you. But if you’re a slave of your mind, you will let emotion state go, and you will keep making the same mistakes over and over again.”

“Everything that you do in your trading account is your fault. Every trading loss that you take in your trading account is your fault. Nobody else, be self accountable.”

Resources:

Somesh S (@kay_capitals) on Instagram

Kay Capitals on YouTube

Somesh (@KayCapitals) on X

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