It is easy to get caught up in the emotions of the market. It is easy to take it personal. It is easy to think that the market has it out for you.
Do not take the easy way out.
The truth is, with the exception of a few big players, the market does not care about you. That is a good thing. It means you can keep taking dollars away from them and they will hardly notice. The downside is that the market does not care if you exist. It is your responsibility to make sure you can execute the next trade in an optimal situation, whenever that is.
The quicker that realization comes the quicker you can start trading. We have all gotten out on the worst tick. We have all had days where everything we touched turned to shit. What do you do in those scenarios? How do you get back at the market?
Do you keep trading?
Do you throw your monitor off you desk?
Do you quit using risk management and dump your plan?
Do you yell at your kids, your wife, the world?
The beauty of trading is that every day you go through very similar things. Whether you are cognizant or not, it happens. Every persons reaction to a negative outcome is basically the same. But the time we spend in that reaction phase is different. For some it is hours or days or never. For some it is an instant.
If you really want to get back at the market you can only do so by learning. This is the only reaction that does not have negative consequences (if you do it right). Nothing worse than having to replace equipment and no one wants their family and friends to think they are an asshole. Staring up at the huge pile of losses is one of the loneliest places in the world.
The market is not your friend, it is here to run a business. It makes business decisions. Act accordingly.
We would really appreciate your feedback, if you like, hate, or think we are full of crap. Please leave a comment, a voice mail (312) 725-9121 , email info @ traderhabits (dot) com or twitter, stocktwits, youtube and facebook. Subscribe to Traderhabits by email or to newsletter.