Just had a day to forget and whilst losing a chunk annoys me, the most annoying aspect is that I traded with the red mist.
Whilst I am reasonably successful it's the attitude that can help/hinder you. I am still angry with my performance but I will give it up for today and review my lack of discipline tomorrow.
When you are consistently winning between 200-400 a day you are not used to this. However, I think that knowing I win this amount caused me to dig deeper when I was already in the S**t.
I wanted to post this as a reminder to all (especially me) that profit/performance is not always in a nice straight line and to focus on what's in front and leave the previous trades behind.
Red Mist
Couldn't agree more. I think that maintaining a relaxed yet competitive attitude is the only thing that separates a lot (although certainly not all) of wannabe traders and 'pros'. Recently my competitiveness dropped somewhat and it really showed in my p+l, you really have to be 100% focused and on your game at all times as it's just so competitive. After some bad results the red mist descends easier and easier - something goes against you and instantly you are on tilt when normally you would just take it on the chin and not let it affect you. Fortunately in my case I managed to turn it around and regain my competitive attitude the last few days, but its a constant struggle managing yourself and trying to get the best out of yourself.
As in Peter's blog I also watched "Tsunami : Caught on camera” (channel 4) last night and this has helped me get perspective.
I have two young girls (9&4) and there was an English couple whose 5 year old daughter was litterly ripped from her mother’s arms by the wave in Sri Lanka. I can't even bear to think if that was me in that situation.
So when you think you have had a bad day and the trading world is against you then take a break and get some perspective. I certainly will be more humble because of the pictures I saw.
Strange as I didn't know the programme was going to be on but it was like I was meant to watch it.
I have two young girls (9&4) and there was an English couple whose 5 year old daughter was litterly ripped from her mother’s arms by the wave in Sri Lanka. I can't even bear to think if that was me in that situation.
So when you think you have had a bad day and the trading world is against you then take a break and get some perspective. I certainly will be more humble because of the pictures I saw.
Strange as I didn't know the programme was going to be on but it was like I was meant to watch it.