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



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