Emini Trading Update – Wednesday 29 Feb 2012 (15:47)
I got beat up pretty bad on Monday and Tuesday – so going into today I was a little gun shy. There were some great setups with large trending moves – but I bailed out way too early on trades, just scared out.
I think that’s the nature of the game – emotions taking over when I should just sit on my hands. As I always say (but rarely follow) – if you’ve got the trend direction right, it’ll all work out OK in the end.
On getting beat up …
Whenever I post about my bad trading days I get a few emails from gentle readers saying “pick yourself up, dust yourself down”. Yes, absolutely – that’s what I do every time.
In fact, my natural response is to retreat to my cave, study my charts, figure out where I went wrong, work on my code, reinforce my trading rules. All-in-all it’s productive time.
And I remind myself that this is the life I have chosen. The losses are part of the game, the struggle is part of the achievement. From Scott of the Antarctic:
“We took risks, we knew we took them; things have come out against us, and therefore we have no cause for complaint, but bow to the will of Providence, determined still to do our best to the last.”
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