If you're a counter trend trader like me, then chances are you had a pretty rough day in the market yesterday. Days like these are the perfect test of character days. Just like Jason said in his video, you have two choices. You can either pout and moan and look for another system to trade, or you can stick to your rules, keep looking for future opportunities and keep pulling the trigger. If you've read of some my previous posts (and the comments on them) then the decision should be pretty easy. STICK TO YOUR SYSTEM. This may sound a little weird, but if anything you should be happy for the losses. Nobody wins all of the time so losses should be expected. Yes, it sucks when they come back-to-back but if you did your back testing correct you should have not only been prepared for a drawdown streak but you should also have a pretty good idea of what your average win percentage should be. If you trust those numbers (and numbers never lie) then you know that a streak of losers means that some winners are on the way to even things out. At least that's how I think
I had a very similar experience to this last month. The first four trading days in June were all losing days for me. These losses literally wiped out everything I had made in May. Was I frustrated, yes, but I also knew that my average win percentage had been about 50% so by starting with only 3 wins in my first 10 trades I had confidence that things would eventually even out. I went on to finish the month with a 53% win percentage and had the most profitable month of my trading career.
Hopefully this post will help anybody that may be entertaining the thought of quitting or changing systems out of fear and/or frustration. Remember it's the big picture results that matter the most so don't let one day throw you off your game.