And This is What NOT Following Your Plan and Complete Disaster Looks Like…
Losing At Day Trading
As you see, I am soo not sugar coating the trading process for you. Today is one of those days when I really just want to quit.
So I cried for hours on end due to my BAD DECISIONS which always costs me copious amounts of money.
Feel completely dejected.
Then jump up and ask myself – What else do I want to do?
That’s when I realize, there really isn’t much else I have any interest in doing.
So what does any rational person do who has lost way too much money already?
Continue!
I know. I am a masochist. But as I’ve mentioned earlier in my other recaps, trading is MY GREATEST TEACHER.
And what happened today once again had little to do with the actual trading process but more of me:
- Not following my plan – AGAIN
- Not doing the Trigger Goals
- Not having discipline
- Not being consistent
You’re wondering – why the hell is this chick still doing it?
It’s simple, if I don’t develop these four things in my life, I will never succeed in anything at all.
So what happened today?
It’s hard to say. I started off kind of ok, but didn’t stick to my 4 tick goal, yet I let some of my trades get stopped out for 5 ticks.
But then I took a trade that had nothing at all to do with my plan. I mean, I’ve barely even backtested it to see if it works. And for some stupid, incredulous reason I broke the #1 and #2 rule:
Cut Your Losses and Move the Fuck On Quickly!
Instead I pushed my stop loss to over 4 points – 16 ticks. $400 per contract.
And of course when you want the market to go in your favor, it does the exact opposite. And it should. Cause it’s not a guessing game. It’s being disciplined.
And the universe is teaching me over and over again to get some discipline and get it quick before I empty my entire life savings and stop hurting myself and my family.
Enough with the moaning and groaning.
What am I planning on doing about it?
I am going back to sim trading, but this time I have realized some of my issues:
- Multi tasking – I am not 100% here. I am looking at my phone, facebook, email. All those can wait
- Pretending to be focusing – back to multi tasking
- Seeing great trades but not taking them – seeing them, but chickening out at the last minute
- Being bold – it’s time to just do it
- Getting a set – grow some damn balls
How To Start Day Trading
Firstly, if you want to learn how to become a day trader and start trading on your own with ease and confidence – Sign up for the FREE Mini Course.
After that, if you have any questions you can always ask me at traderchick.com. Come to my Facebook group and introduce yourself, let me know your experience with trading.
So if you are ready to go beyond the basics, learn day trading and start your dream life – check out MY COURSES.
