Better Trading Ahead! 5/9/17 | TRIN Café

Better Trading Ahead! 5/9/17

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"Better Trading Ahead!" is the theme here I am drilling into my psyche.

I did some deep introspective thinking about my trading, the learning never stops. I  learned that I was seeking instant gratification from my trading success, the hard work of being patient and waiting for my trading criteria did not factor into this powerful emotion.

Trading well for a loss is better than trading poorly for a profit... take a minute to think about that.
I do believe that if I trade well consistently, I will be able to compound my wins. But what is more important than how well I win, it's how well I lose...

Losses are a part of trading, we all know that, but do we ever embrace "a good loss". I'm talking about the kind of loss that took place in a trade that met all your criteria, and by chance, price stopped you out for a minimum loss or small gain?

See below chart, for example of a good loss imho. Notice the highlighted area of congestion, I made my trade just outside this area to allow the trade to gain momentum in my favor outside the congestion.  I Sold 46.12, the position was profitable for a short time until my profit stop was hit. CL may retrace back down, but that doesnt matter. I made my trade and now it's time to move on with my day.

"Better Trading Ahead!"

Lot Size: 2
CL: +$21

Total # of trades: 1
Percent Profitable: 100%
# of winning trades: 1
# of losing trades: 0
# of even trades: 0
Total: +$21

CL









COMMENTS

BLOGGER: 2
  1. I really like your new format TC! Good luck with the CL contract, that's one I haven't been consistent enough with yet. Periods where it's easier to trade, longer periods where it's a bit tricky.

    ReplyDelete
  2. Thanks Michael for the compliment, the new trincafe format also serves as a fresh approach to my trading. I was primarily trading YM and ES for years with consistency, and then their "trendiness" became a lot more tricky for me. I think it's safe to say that most trading can be tricky lol.

    ReplyDelete

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TRIN Café: Better Trading Ahead! 5/9/17
Better Trading Ahead! 5/9/17
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