Tips for the Struggling Trader

Some of our traders have been having a rough couple of days, and so we thought this would be a good occasion to point out two things: a) this happens to the best of traders, and b) it doesn’t mean you’re in a slump. Translation: all traders go through rough patches, but you’ll improve if you remain focused and wait for your best setups.

It happens all too often that a trader having a bad day will compound the problem by entering into trades that he or she normally wouldn’t trade. Don’t do it! You know what your best setups are, so stick with them. You know what your trading style is, so don’t deviate it from it. You have your trading rules, so don’t break them. And, lastly, do remember this helpful tactic: walk away. Yes, take a break, clear your mind, and come back refreshed.

And when you do come back, don’t just jump back into the market. Instead, take a moment and use your clarity of mind to watch the tape of a previous solid trade. This is always an excellent thing to do, because watching and reviewing your best work will put you back into the proper frame of mind. After all, when you remind yourself of how well you can trade, you’ll be ready to make another good trade.

We’ve gathered several blog posts that should help. They are listed below, and, as always, good luck with your trading!

• Trading Slumps: Don’t Stop Believing
• How to Bounce Back From Failure in Trading
• Trader Denial or A Good Time to Take a Break
• Should You Quit Trading?
• Get Your Game Back

If you feel you lack trading skills, let us know. You can always contact us for training.

Mike Bellafiore

[email protected]

One Good Trade

* No relevant Positions