Weekly Video Update and Recovering from Losing Trades!
Recovering from Losing Trades – A MUST HAVE skill as an emini day trader
We had an awesome trading week! We did NOT have one and done trades all week. In fact we only had 1 or 2 days. The topic today is RECOVERY! Taking losing trades is part of the business. EVERYONE that trades will at some point take losing trades! As day traders, we take more trades so we take more winners and more losers as we trade everyday! In any event; knowing you are going to take a losing trade at some point is part of it. What’s most important, however, is the know-how to recover from the losers!
I tell my students that recovery should be your FINEST trading attribute! Trading is never going to be “easy”. Sure, over time, with experience emini trading does become easier, as traders get acclimated to their trading systems, they practice and learn discipline (or they should!) but the losing trade WILL happen and every trader must have a recovery plan and the ability to focus. So when you are down a couple of points, your mindset should be totally focused NOT on what happened (losing) but on what is going to happen – what trade is next? What is my plan? Not , “woes me, I lost again” … Those kind of negative thoughts are a sure-fire way to end a day trading career.
So whoever you may be reading this blog, remember to focus on recovery! The winning trades take care of themselves!
Here is the Weekly Video Update showing our trades this week, winners & losers. Enjoy the weekend and be sure to get in touch if you have any questions!!
David Marsh
ETS
