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.”
Good luck with your Emini trading.