I lost money, and I’m ok

EQUITY RUN UPDATE:  $11,824   I just lost money on two trades.   Yet, everything is ok. Why?  Because I followed my program.   It's my grove.  It's the pitch I swing to.  Sometimes I miss, sometimes I have a base hit.  Sometime I can get a homer out of it. The most critical component … Continue reading I lost money, and I’m ok

Trading losses = tuition

One way the fund owner used to talk about losing trades was "tuition." We were all in the same boat, with very limited trading experience.  He was willing to put his money up to see that we learn how to trade. In the first year and half, I lost close to $150,000 trading a small account for … Continue reading Trading losses = tuition

Forgive yourself

Bad trades happen. Especially at the beginning, if you haven't mastered your emotions and your ability to exit when you said you would, a losing trade can turn into a bad trade.  A losing trade isn't a mistake.  A mistake is when you break your own rules. And that's a bad trade.  Again, those happen. … Continue reading Forgive yourself

The perfect trade…

...doesn't exist. Buying at the very bottom of a move and selling at the very top before the next reversal is a matter of pure luck and it doesn't happen very often. Come to terms with the fact that grabbing any portion of a move is good enough.  Create rules not only for entry signals, … Continue reading The perfect trade…

Don’t you dare disagreeing, unless…

EQUITY RUN UPDATE:   $15,196  |  +51.2%   There has been a series of public indictments recently that have killed the old notions of due process, of innocent until proven guilty.  The broader trend seems to be an utter lack of an open exchange of ideas. From egregious crimes, to divergent political opinions, it seems … Continue reading Don’t you dare disagreeing, unless…

Drawdowns suck and they are inevitable

EQUITY RUN:  NO UPDATE.     The vast majority of a trader's lifetime will be spent in a drawdown from peak equity.  The key is to not get greedy, not get fearful and keep your chips together for the next trading day.  You can't do this if you don't trust your system. TRUST IT.  I'm … Continue reading Drawdowns suck and they are inevitable

Did you see that 27% rally? In 3 days!

EQUITY RUN UPDATE:  $11,038.   It happened fast.  It happen strong. It was RBOB Gasoline, September delivery and in the October delivery a bit also. The move was, as it often is the case, a reaction to an "act of God", namely hurricane Harvey, which effectively shut down the refinery industry on the Texas and … Continue reading Did you see that 27% rally? In 3 days!