My trading performance today was a huge reality check for me.
Learning to completely remove yourself from your last trade, win or loss, requires a skill, that after today’s session, I have yet to master. Mark Douglas talks in his book Trading in the Zone, how one trade has absolutely no predictive or statistical influence on the next trade that you make. You start fresh every trade, win or lose. Expect the unexpected. The only thing certain is uncertainty.
Clearing your mind from your last trade, is a skill in and of itself.
Emotions that I have to get over:
-Not trusting your trade preparation and setups
-Getting shaken out of a trade
-Missing a trade go by
-Taking a loss on the first trade of the day
I was starting the day feeling frustrated because of anticipating a GS bounce on Wednesday, but closing out because of emotional reasons. I was not prepared to trade today, rolling out of bed at 9am, no breakfast, little preparation, what was I expecting thinking I could scrape by today?
After “missing” the GS morning run, I decided to start fading it way too soon, getting too big too fast, then started second guessing myself for over trading, then got back short, then traded long, etc…etc…etc….
Enough with the rookie mistakes, professional trading begins this December 2011
I know my favorite setups, I know when to cut losses, I know the work required to succeed, I know I can do this.