First Green Day In Italy Trade Recap

My problem, of course, is that I know every so often I get myself into jams where I take way too much size at the wrong spot, have a terrible trade and that’s a combination of my personality and the way I trade at times, the way emotions sometimes come out in my trading. Everyone else has different sort of features and quirks of their strategies that you’ll notice from time to time and it’s something that I want to try to work on. What time is it here? It’s like 5:00, 5:20 here in Italy, so I’m getting kind of tired.

This is a funny time of day to be trading. Having to get kind of amped up to trade at 3:30 in the afternoon is, for me, past the bell curve of when I’m at, usually, peak performance. So that probably hasn’t helped. The internet here has been pretty difficult. That has not helped things at all both in terms of executions of trades and in terms of frustration levels. We’ve talked about this a lot where coming in at the open, you have a really bad morning or you’re in Italy or whatever and you’ve got a whole bad first half of the day, then by the time you sit down to trade, you’ve got all this baggage with you and it’s really hard to just drop that and focus on trading. And so when I log in and it’s like, “My settings are all screwed up,” and, “This monitor’s not working. What’s going on with it? This thing is such a frustration,” and, “Aw, I can’t connect to the wifi,” and, “Okay, I’m connected to the wifi but my upload speed’s only one megabit per second. What’s going on?” All those things amplify to put you in a place where you’ve got a shorter fuse and when you’ve got a shorter fuse, you’re more likely to crack under the pressure of FOMO and frustration. And I say that from firsthand experience.

The best thing you can do is develop a sense of awareness where you realize the red flags so you can start to pull things back before it’s too late. And, knock on wood, I’ve really only had two days in my career that I really let things get away from me. Those were the two days that I lost $30,000. Those were two individual days and they were both the result of a combination of sort of emotional factors building up to the point where I took it out on my trading and things went wrong. And unfortunately, sometimes, well, unfortunately I think, maybe fortunately. Sometimes you’ll have that emotional culmination of factors that push you to the breaking point and sometimes the market will reward your bad behavior. And that’s the one disadvantage of learning to trade during a really hot market. You can get some negative reinforcement. You get positive reinforcement of negative behavior. So you’re doing the wrong thing but you’re getting rewarded for it.

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