Despair happens when you lose money and your trade doesn't improve

Don't despair, treat your losses as part of your business and as paying the market fees.

Focus on implementing your system with discipline, not results. Hope arises as belief in yourself grows as a disciplined trader.

Disappointment occurs when the expectations are much greater than they are currently

Enter the trading with a realistic expectation.

What is the actual annual yield that you should expect, based on traders using the same methodology you do? Can you get an actual estimate of what the drawdown rate is based on the winrate and R: R ratio?

Trading a strong long-term system with discipline leads to profits, but your path won't be flat. Understanding what you should practically expect will help you reduce the frustration of trading.

Regret is a disappointment in a loss that is caused by a lack of discipline

If you followed your trading plan and lost money because the market did not go in the direction you predicted, then it is only part of the business.

But if you go wrong with your plan and trade based on your feelings or ego then you should feel remorse and stop being undisciplined. You should assure every entry point and with each position size that you have no regrets regardless of the outcome of the trade. Your job is to implement your trading system consistently and disciplined.

You will enjoy your trade while you have a winning trade and not be afraid of being ruined because you are trading with the right position size.

Trading is much more fun when you risk 1% of your capital hoping to earn 3% of your capital without the possibility of ruining it.

In the meantime, it would be terrible that you are wagering a large percentage of your capital in each trade, and with just a few bad trades your account will go to zero.

The wisdom comes from the experience of many years of successful trading

To trade successfully, you need to trade real. Backtest and charting won't make you a trader. Only taking the risks and managing the stress of real trading can do that.

The wisdom will come from spending real money over the years and proving to yourself that you can be a winner in the long run.

Trust in your system comes from a belief in its profitability through backtest and then experience winning with it over the years.

While you must be able to answer the question of whether any holistic trading method is a win or a failure, for each individual transaction the answer doesn't say anything.

Each trade is random, but the principles of a profitable trading approach take place on a sample size large enough to eliminate turbulence and capture trends.