One of the advantages of being an “educator” is being able to experience mistakes of others. Below is an example of that.
If you have taken the time to develop a solid trading plan, which has proved to be profitable and successful. Why the fuck would you go against?
I broke a golden rule this morning and got burned. Fine, shit happens. Then the revenge trade takes over. Got burned again.
I literally say to myself, “What the fuck are you doing? You have followed your rules so well the last 8-10 weeks. What are you doing?” I take a little walk. Come back and say, “I will take a trade only if it falls within my parameters and rules.” So the trade comes along. I follow the rules and its a legit loser. Fine. I didn’t break anything on this one.
Three losers in a row. Two by breaking rules. That’s my limit for the day.
One bad day, not the end of the world. Frustrating because I know what happens when I break the rules. Tomorrow is a new day to get on track.
I prefer to get emails, it provides a record for everyone. I can get more context by the words they use. The email was from one of my most successful clients. A few important take aways: We are all addicts, susceptible to relapse. Letting one mistake become many is destructive. Most important, if we are going to learn we have to own it.
I can already tell you the email I am going to get tomorrow or the next time we talk. It will say, “I made x% back. I followed my rules and it worked.”
Takes these lessons and use them, they are free.
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