After the close I had this discussion with some new traders:
Expectations are so important in skill endeavors. What would be a great day for you? Making more is really about finding the plays that make sense to you and trading more of these set ups and with more size. There is no secret formula to this. Each person must find their path to more size and more set ups. Each person will have different set ups that make sense to them. Your goal should be to make $1000 on your best days. You should be shooting for that goal. Each day after the close I want you to send me an email with a path to how you could have made $1000. Send me this email until one of you hits the $1000 mark. You are all capable of doing this in the very near future. You need to start striving for this goal.BRY couldn’t do this for a long time. In the past two weeks he has done it twice. What he couldn’t do before he can now. He did this by finding the plays that made sense to him and trading them with more size. Start thinking about this. Start doing it.
Mike Bellafiore
Author, One Good Trade
One Comment on “Expectations: A Conversation with New Traders”
I guess your 1000 a day goal only can be reached in day trading, since when swing or position trading, one will obviously have down days, and it will be ok and normal even for the best trades.