Thanks for sharing @TraderRR, I enjoy reading about others experiences and thought processes regarding trading, and I would like to add a couple of thoughts if I may.
To me, the understanding of the psychology of the market should be number 1. When you trade everyday as we try to do it is imperative to have the feel of the market and to know when to trade and when not too, and when to go back into cash and sit (often for a couple of months). The money flows into and out of the markets just like a tide, and therefore we get risk on and risk off periods. Psychologically we tend to hold poorly performing shares when we should be ruthless and cut them loose, as there will always be another trade to invest in that is going the right way. It has taken me a long time personally to overcome the (fall in love syndrome) and (hold onto it, it will come again syndrome). Once a trader becomes adept at culling and reading the market, the monetary gains will follow.
The other psyc trend that is a bad habit is the feeling of " am I missing out on trades" and then buying into the hype just for that reason. IMO there is no quicker way to lose your money than this.
I hope these thoughts may help someone out there that may be struggling and I thank you for taking the time to read this.
