Day traders can’t afford distractions. Distractions cause expensive mistakes, not only in day trading, but in life as well. There are small mistakes that are part of the game, and there are large, foolish, and uncalculated mistakes can mean “game over” for your trading career. One of the bigger mistakes is overreacting with a large position to a given event. If you made that trade with the right size, and made a mistake, it would result in a small and harmless loss. Making that same mistake with an overleveraged bet can often be catastrophic. The right perspective teaches you to trade “by the book”, but it also gives you the flexibility to trade better when conditions are in your favor. And, when you have the right perspective, you don’t let anyone affect your opinion. Not a “guru”, broker, chat room, forum, etc. Perspective gives weights to information that affects your trading.
