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Not trading when you are right



Not trading when you are right

Days like today might be psychologically the most difficult trading days when you have clear convictions of where the market will be going in regards to price direction, find these convictions confirmed but can't rule based participate because a component of your system is not qualifying for participation(in this case low risk entry points)

the ego might be strongly opposing to sitting on our hands but it is this discipline to obey your trading systems rules versus satisfying your egos need to be right that over the long run produces the consistent results that you see me post day in and out in this channel.

one of the best solutions to not succumb urges of FOMO or being right is having a reward system in place that provides rewards of structured intraday tasks completed diligently and obeying your system rule sets by watching sequential execution sheets to be followed diligently versus focusing price direction or other emotion based future forecasts your ego might suggest.

It is the structured balance of an intellectual engagement into the markets that is neither boring nor overwhelming to participate in market observation with the principle intent of resulting execution tasks versus a at times boring and other times overwhelming reactionary interpretation of market data that rather suggest participation based on data compression asking for relief and data interpretation being skewed by subconscious suggestions trying to eliminate stress or other non principle based emotionally driven actions.

It is this principle based work on balancing engagement blocks in the right manner in accordance to ones individual mental makeup along side of reprogramming certain limiting aspects of ones psyche that differentiates a trader from a gambler and a consistently losing market participant from one that extracts consistent profits.

It is this self reflective work and the willingness to improve ones own limitations in reflection to behavior within live markets that form the master trader, not the often thought insights in system components of technical or fundamental data as the ego so often might suggest.


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