The boom/bust in 2019/20 of retail traders

Many of the issues associated with trading stem from psychology. People often rush into trading because they've seen that significant money can be made in an instant. However, it's essential to acknowledge the flip side: you can also lose money just as quickly.

Let's rewind to when trading started gaining popularity, especially in 2019 and 2020 during the COVID-19 pandemic when many had more free time due to furloughs. Numerous beginner traders entered the market without grasping the fundamentals. It's easy for people to fantasize about their potential gains but often neglect to consider the possible downsides.

The truth is, many are looking for a quick fix to earn money rapidly. This is where the law of attraction and a trader's mindset come into play, significantly influencing their approach to trading and their behaviour during and after trades.

Taking a loss is akin to taking a hit in sports. You won't win every time, but it's essential to be smart about it.

As a current trader, maintaining a positive outlook is crucial, especially when those around you may not understand how you can make a living from trading.

To become the ultimate trader, you must continuously focus on personal growth and ensure that self-development remains an ongoing process. This not only improves your psychological well-being but also translates into better trading results.

If you find yourself feeling down and emotional, something is undoubtedly triggering these emotions. It could be related to family, financial issues, debt, or other factors. I would recommend grabbing a pen and paper and asking yourself a few key questions:

1. What is causing my emotions outside of trading? Identifying the root cause.

2. Why does it have such a significant impact on my life? Understanding its control over you.

3. How do I feel about it? Establishing why these emotions persist.

4. How can I let go or move past it? Identifying areas where you can take control.

Consider these questions carefully and work towards finding solutions to heal and move forward. Self-awareness and taking action are essential.

If you're struggling emotionally, it's advisable to step away from trading to prevent further financial losses.

Take care and keep up the good fight!