If you read my last trading post ("The Robot") then you should know that last week in April and the first week in May were probably the two best trading weeks of my life. Not just from a monetary perspective but from a mental one as well. You'll also remember me noting that since those weeks were so positive I knew the losers would be coming soon. Well just as I predicted the losers came last week. Out of the 10 trades I placed last week only 3 were winners. Now I must note that because I was away on work, I wasn't able to trade my normal hours and that caused me to miss a few opportunities, but even if I would have caught those trades I still would have been below the 50% win percentage mark. In the past losing 7 times in 10 trades would have destroyed me mentally. However since I have now excepted the power of ratios (read "Flip of the Coin") I was not only prepared for this to happen, I was waiting for it. Also, because I had a good first week of the month my equity curve was still above where it started at. I don't mind going back a step to jump forward two. At least that's my plan.
Now, to what this post was originally suppose to be about. Going in with a positive mindset. This morning I was put in a very good mood when my trading mentor sent me a message saying that he checked out this site and liked what I was doing. Because I was in such a good mood my approach to the market this morning was care free. I was able to trade strictly on muscle memory, meaning I didn't debate any decisions in my head at all. I simply analyzed the charts in my normal fashion then set limits, stops, and targets when and where they needed to be put. Will this turn out to be the best trading day ever? Probably not, but the point is I'm trading the way I want to, meaning without emotions or over thinking.
From when I first started trading various sources always said to only trade when you in a good state of mind. I never thought about that until today when trading just felt easy. I mean, I have a set routine where I read over the trading philosophy & psychology part of my trading plan, but I always did that to remind myself of why I'm trading not necessarily to put myself in a good mental place. With that being said I like the idea of going into my trading day happy and excited and I need to find a way to feel like that every day. If you have any suggestions please leave a comment and let me know. I'm motivated a lot my visuals so I was thinking of printing out pictures of some of the things on my "goals" list. I don't know. I'll think of something. But today was a good day, no matter if the trades I have on win or lose.
Now, to what this post was originally suppose to be about. Going in with a positive mindset. This morning I was put in a very good mood when my trading mentor sent me a message saying that he checked out this site and liked what I was doing. Because I was in such a good mood my approach to the market this morning was care free. I was able to trade strictly on muscle memory, meaning I didn't debate any decisions in my head at all. I simply analyzed the charts in my normal fashion then set limits, stops, and targets when and where they needed to be put. Will this turn out to be the best trading day ever? Probably not, but the point is I'm trading the way I want to, meaning without emotions or over thinking.
From when I first started trading various sources always said to only trade when you in a good state of mind. I never thought about that until today when trading just felt easy. I mean, I have a set routine where I read over the trading philosophy & psychology part of my trading plan, but I always did that to remind myself of why I'm trading not necessarily to put myself in a good mental place. With that being said I like the idea of going into my trading day happy and excited and I need to find a way to feel like that every day. If you have any suggestions please leave a comment and let me know. I'm motivated a lot my visuals so I was thinking of printing out pictures of some of the things on my "goals" list. I don't know. I'll think of something. But today was a good day, no matter if the trades I have on win or lose.
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