Trading Journey – Day 15
Greed - it still gets the best of me sometimes. Admittedly it's becoming less and less. I notice I write more about my bad trades than I do the good ones but I think it's
Greed – it still gets the best of me sometimes. Admittedly it’s becoming less and less. I notice I write more about my bad trades than I do the good ones but I think it’s important to acknowledge your errors so that you can rectify them.
I am referencing a trade this evening in which I was £20 in profit. Ons Jabeur was about to take the first set from Coco Vandeweghe. I initially laid Coco @ 1.07 and was riding it as Ons kept upping her game. Coco reached just below 2.0 and it was clear that it wasn’t going to go much further (prob about 4 ticks if that. Yet I stayed in, even though it was obvious it could have shot back… and they did. I was now £4 in the red. I tried to scrape some of it back but ended the trade £7 in the red.
I wasn’t doing too back before this. But, at least I’m acknowledging it and owning it which I think is extremely important in trading. Otherwise you start kidding yourself when you know a trade isn’t going as planned and that is when you start taking stupid risks and gamble instead of trade.
Just looking at the graph below it’s clear that I’m struggling to accept losses. The top chart shows this in great details. So this will be my main priority for the next few weeks as I try and drill in the fact that I must accept losses as part of the system that is trading effectively.
If you follow me on Twitter or are in one of the groups I am a part of then every now and again just give me a nudge and ask how my losses are doing. It will make me realise that people have seen this and push the accountability further into my conscious.