Trading Account

Trading Account

Monthly Trading Results

Monthly Trading Results

Tuesday, November 3, 2009

Poor results yesterday

Yesterday, as I posted on Twitter, was not one of my best days. Post losses of more than 80 pips is not a great way to start the week. However, my issue is fairly common and was an issue last week as well. It seems that I enter the week with nothing buy how much money I need/want to make this week in mind and start off trying to get to that goal. This is an attitude that served me well in my previous career, but is not suited for trading. Dr. Steenbarger and the guys over at SMB Capital focus a lot of effort around the concept of "One Good Trade". Their point is that all you should focus on is making that one good trade, and not on the money you are trying to make, have just made, or even just lost. I've been thinking about this concept since roughly noon yesterday and it has become my mission for today. My goal today is to make one good trade.

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