I heard on the Street that many day traders struggled in December and January.  I know there were some on our desk who were disappointed with their results.   Over the years I have been offered data from the market that I was not going to succeed as a trader.  I was offered this data when I first started (starting down $36k to start my career), and I am offered this same data periodically during every trading year.  In the spirit of March Madness I offer a thought for you to ponder.  The good trader during these lows just tries to survive and advance.

I am very proud of my desk.  Some individually were offered data that they would not be a successfully profitable trader in December and January.  This of course was after they killed it in the Fall.  But almost all did not succumb to this temptation.  They continued to work.  They came in everyday and grinded it out.  Many focused just on getting better everyday.  The desk’s mood has been downright and rightfully giddy about their trading results of late.

At SMB there are webinars everyday that offer suggestions on how to improve your trading.  We offer a ton of individual instruction and specific trading advice.  But there is one thing that we cannot teach.  And that is the ability during these lows to survive and advance.  This comes from inside the individual trader. And this is true even though Steve and I will offer reassurances that we have been through times like these.

I do not know a successful trader who at one point was not offered trading data that he would not be successful.  I do not know one successful trader who has not doubted their ability to continue trading.  I do not know one successful trader who has not had to right the ship.  There will be difficult times.  This is inevitable. But the good trader hangs in there and waits for clear skies.  And then he uses his past lows to become an even better trader.

I have traded through the Asian Financial Crisis, the bursting of the Internet bubble, 9/11, and now the near collapse of our banking system.  Through every crisis I have taken some huge losses initially.  I have doubted my ability.  But simply I made adjustments and hung in there.  Each crisis has made me a better overall trader.

So if you are struggling please do not succumb to human nature.  Do not convince yourself that you cannot become a successful trader.  This is your opportunity to improve as a trader.  Make a list of things you need to improve.  And start working on them one by one.  Keep searching for your solutions.  Do what the good traders do.  Survive and advance.

BTW I am hoping that UConn will survive and advance tomorrow.

Best of luck with your trading!