Hello traders,
Today was a good day turned okay day turned horrible day turned okay day for me.
Trading is not about absolutes and some days will suck.
I fatfingered a trade and sized way higher than I usually do causing me to go deep crimson on the P&L.
I found a way out by keeping the increased size and trading to back to even.
This is a classic trading error which I talk about often.
Most people tend to size up after a string of losses but I sized up due to a mechanical error. Which is also definitely wrong and not a defence of my actions. However, all’s well that ends well??? Not quite.
We should focus on process over results. This is why the mental game of trading is important and likely the difference between a good trader and a great one.
What do you do after a session like this one where you see wild swings in P&L?
Take time off trading. That’s it. You need your cortisol and adrenaline levels to stabilize and time away from your trade station and do something else. Anything else that doesn’t involve trading or uncertainty.
End rant.
Moving on,
Levels for the overnight session are as follows.