What I have learnt over the years is the chart is nothing but a mirror effect of our beliefs, attitudes and values towards risk, money, perception about information, psychology, emotions, etc.
To me, it is a good way to know myself better. Change your mindset towards the chart. The first thing when you look at the chart is not the price action but a peek into your mind. Are you happy, sad, angry, frustrated, helpless? What emotions are you going through right now?
These emotions - the unhealthy ones need to vent out and we humans need control. What better way than to take it out on the market. So you may increase your position suddenly out of revenge , hoping to make it all back, now or never! The market is not cruel as some of us think it is. The market is emotionless , neutral to begin with. Because it is not a human per se, it cannot hurt you unless you give it permission to.
For change to begin, we need to learn how to accept things as it is. Accept that we ain't perfect, we make mistakes, we failed, we lose money, we bust our accounts. After acceptance, make up your mind if you want to continue trading. Maybe, this ain't for you, I do not know. I swear I had those mixed up emotions in the past.
Just because you did not succeed in trading does not mean you cannot make money elsewhere. There are people who make their money in real estate, collectibles, selling goods online, franchise, etc. Explore your options.
What I personally like about charts is - It does not argue with me. It simply present me with the information and is up to me to decide what to do with it. Sometimes, it is too much , too soon that I blank out and do not know what to do. That is when I go for my run to clear my head else I take on any impulsive move.
If there is a faster way to fail , it is to compare your results with others. This unhealthy competition gets you into a confused and unclear stage of beating the others to be accepted, to be recognised or to be known for who you are.
I remembered the days when I make cents profits , it is so......painful but I learnt the lessons. Accumulate, consistency, system, being present.
Be a little nicer to yourself, give yourself more encouragement even if there is no one to give you a pat on the back. Reward yourself a little each time you win.
The best is yet to come, 2018 will be a year of breakthrough for all of us. Just BELIEVE.