Congrats to Green Goose ER team. As ARF mentioned above, I’ve been tracking at daily level and I consistently have one red day per week and it is tough for me to smile and accept it. I spend more time reviewing those red days to do my own lessons and learn then accept my defeat and remind myself not to make same mistake again. Was I being too greedy, what could I have done to save the red day, what could I have done to minimize the loss, etc., then move on to prepare for the next day. I guess I am not a machine or an alien after all, because I repeat the process again. Lol
You are doing a great service to your trading career by doing your "own lessons" and learning from them. Unfortunately, you can hurt yourself financially in this process.
Michael's group is following system trading. They have a plan and they stay with it; win or lose.
It seems to me from your comment about "being too greedy" that you have an exit strategy that is not a set system or in your plan. You are making decisions at some point that are not set in your plan. I would recommend you examine your type of trading and tighten the entry and exit plan and make improvements. If you have a system and you trade by it, then, in my opinion, there is very little room for getting "too greedy." For me, I always exit when the price bar does a specific thing; win or lose. Because the next trade depends on entering in the right place.. according to my trading plan.
Sorry Michael, I don't smile when I lose money. But I do accept losing money does happen.
As a day trader I don't care about my # of wins vs losses, I care about how much money I've made since I live off my trading income. It's what's there at the end of each day and each week that pays the bills.
IMO, your group of trades has done well this Spring season. Congrats to you all!
Congrats to Green Goose ER team. As ARF mentioned above, I’ve been tracking at daily level and I consistently have one red day per week and it is tough for me to smile and accept it. I spend more time reviewing those red days to do my own lessons and learn then accept my defeat and remind myself not to make same mistake again. Was I being too greedy, what could I have done to save the red day, what could I have done to minimize the loss, etc., then move on to prepare for the next day. I guess I am not a machine or an alien after all, because I repeat the process again. Lol
Nakyup,
You are doing a great service to your trading career by doing your "own lessons" and learning from them. Unfortunately, you can hurt yourself financially in this process.
Michael's group is following system trading. They have a plan and they stay with it; win or lose.
It seems to me from your comment about "being too greedy" that you have an exit strategy that is not a set system or in your plan. You are making decisions at some point that are not set in your plan. I would recommend you examine your type of trading and tighten the entry and exit plan and make improvements. If you have a system and you trade by it, then, in my opinion, there is very little room for getting "too greedy." For me, I always exit when the price bar does a specific thing; win or lose. Because the next trade depends on entering in the right place.. according to my trading plan.
I hope this helps.
ARF
ARF. Thank you for your feedback. I have a teacher who used to beat me up with a green stick. lol
We all beat ourselves up, but we do end up doing better.
Sorry Michael, I don't smile when I lose money. But I do accept losing money does happen.
As a day trader I don't care about my # of wins vs losses, I care about how much money I've made since I live off my trading income. It's what's there at the end of each day and each week that pays the bills.
IMO, your group of trades has done well this Spring season. Congrats to you all!
Smiling is acceptance... 😁