Thursday and Friday, February 16th and 17th I saw two day’s of small losses, -2 points and -1 point.  I was just not in sync and it shows. Two small losses are better than large stop out days, of which is 4 S&P points per session max. If I am making poor decisions it is best to let the day go and wait it out. That is what I did and for that I am content. I can make that up this coming week if the market gives me an opportunity. I should not hunt for trades but need to remember to let them come to me. That is good advise for everyone as well.

When the market is acting well, that is the time to either trade a little heaver and or trade for additional points. It is a lot easier to make up any daily goal shortfall on a session that you are seeing things as they are and not as you want them to be.

This is a good lesson for me and for those working through their own trading method. I am happy with the fact that I did not overly try and get even or go ahead when it was not the time to do it. On Thursdays session, I had my chance with the last trade entry as it was a very good runner for 5-6 points. I was it at the right timing but somehow I talked myself out of the trade and even then went short when the method said not to do either one.

That is a clear sign that “I am the problem” and trying to trade through that, can do more damage. The best thing a trader can do it let it go and close it up, which I did. That is a victory in itself and I see it as such. Being down only 2 small points and not doing any additional damage is a very good thing. Losses happen to everyone, but its what you do with those losses and how you handle it.

Some traders can not handle loosing trades and loosing days, but we better learn to accept it. If we put our self worth as a trader into every trade and or every trading session, you will create a barrier for yourself that is almost impossible to overcome. For many, this is all they might need to do in order to adjust themselves towards profitability.

So much of this is tied to the mental aspect of trading and often overlooked, which is the reason why I bring it up. Dealing with losses is a difficult matter, but it need not be. The blockage comes from your own expectations of what you feel you should have gotten but did not. Thus, a let down and negative self worth as a trader can easily creep in.

If you don’t allow yourself to tie your performance in any one session to the big picture performance, than it is just a small loss that can be make up in another session or just kick it out and keep moving forward. This is one of the hardest things for traders to do, because they will get all to consumed with the fact that they make to many mistakes and thus create more mistakes.

That which you hate the most is what you invariably and overwhelmingly drawn to. Think about that for a moment….

It can very easily become a self fulfilling prophesy, as traders make the same mistakes over and over again. Why is that so?  Another good question and worth a moment of pause to reflect within.

The decision is often up to you, believe it or not. If you know how to trade and have an OK method to follow, many times it is just the negative self image a trader hold deep down within himself that he is not even aware of, that subconsciously pushes himself towards a self sabotage mentality.

I know many know exactly what I am talking about because it has happened to most traders across the board sometime in there trading career.

These things can be overcome but a strong will and determination to first address it and then take action as described is a start to turn things around. I tell you this because its true, even though it may hurt. Often, the truth does hurt, but when you embrace it, rather than run from it, you are taking the steps towards recovery and establishing a solid foundation.

That is one of the best ways I can describe it. Building a trading foundation that looks within just as much as the outward expression that is tied to your actions of pulling the trigger. You need both to be successful. Having one without the other will eventually express itself towards the least common denominator and that is towards ones weaknesses. The market is always looking for personal cracks in your trading armor. Seeing and exploiting your weaknesses where ever they may be. A lack of patients is very common and one that gets many traders over and over again.

Premature entries draws on fear of lost opportunities and causes entry before its time and so on. I could talk for days on all of this, because I to have lived it. Its learning how to deal with it and stay in control at all times and again this is found within.

I write this for myself just as much as I write this for those who follow me. This is my way also to remind myself of the many truths I have learned and a nice way for me to express it and help a few others with similar issues along the way.

With that in mind, I hope it has helped. I will post my trades below for the last two sessions and look forward to a better week.  Trade well, trade committed!  Vince

Friday’s Trades:

Thursday’s Trades: