Blame Yourself!

Sometimes traders tend to blame the government,the Algos, the media or something else for their bad trading performance. When i look at the way i traded today, it would be easy to complain about all of those things.

***

But ultimately the only reason why i had a terrible day today,was a lag of discipline. I wanted to wait for good low risk,high probability setups. Instead i traded on every large green candle or breakout of a channel. Instead of analyzing the market and waiting for the trends to develop,i just jumped on every small move at exactly the wrong time.

***

Coming into this day i knew that it would probably be very choppy,because of all the news and opex. I was even thinking about taking the day off because of that. But because i am addicted to the market i couldn’t  do that.

***

The only way to stay in this game is to learn from these mistakes. This job is very challenging exactly because it is also an addiction(for most of us). I still have to learn how to control myself better and not change my trading because of some emotional bias.

***

Next week i will trade a lot less and make a lot more money. That is one reason why this job is so great: doing less can mean bigger profits!

 

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About Schwarzdaytrades

I am a full time day trader. I like to share my opinion about stocks and the psychology of trading.
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