In my eyes I've had a great start to trading in 2011. I've taken 9 trades total (3 for profit, 4 for loss, and 2 still in progress). However out of those 9 trades, I only consider 2 to be "bad" trades. (Remember bad trades being defined as not following my rules). Today was the 1st Friday of the month which means the announcement of the scariest news event of them all. The infamous Non-Farm Payrolls. For those who have never experienced trading during this announcement. Let's just say that the candles look like jumping fans at a concert. (I know bad analogy). Anyway I was secretly hoping not to get any signals during the announcement, and I didn't. But I got one right after, off an ugly looking candle. However, my rules said that I had to enter the trade so I did. And you know what? It ended up being a winning trade within about 20 minutes. This goes back to my quote: "Follow your rules and the market shall reward you, break your rules and the market will punish you".
I can definantly tell the difference between my trading mindset this year as opposed to last year. Whenever I was in a trade last year I would wreck my brain thinking about it and checking my charts every minute. This year I feel as if I have more of a calm demeanor to me. I set the trade, set my stops and limits, then walk away and go on with my life. I still check every now and then, but it doesn't keep me up at night anymore. Maybe its confidence, maybe it's the fact that I know whatever happens I can't get out of the trade until it either wins or losses anyway due to my rules. But I'm liking it a lot. So here's to a positive 1st week.
-We Are TR (Team Royalty) "Progression"