Last night a trader sent me a review from a very poor trading day. He wrote:
Little mad at myself for not taking 2 of my best setups in UVE below 18 and HCI at 32. Had the alerts go off but didn’t take the trade, and those trades played out to perfection. It definitely got under my skin most of the day and I pressed a little bit throughout the day and cost me a bunch.
There wasn’t a solution in his review just him sharing his thoughts he was “pissed”.
My response was: what are you going to do about it?
During a monthly review a developing trader shared how his losing days were eating too much into his winning days. Again, there lacked specific rules for minimizing these losing days. Trader wrote:
The biggest issue that I seem to be having as of late is controlling my losses on my down days. Instead of stopping the bleeding, I end up obsessing over getting back positive on days where I start down, and end up making stupid decisions that only make things worse.
My response was: what are you going to do about it?
Another consistently profitable trader on the desk carped how he struggled with sizing during the past month that infected his results:
The past couple months I made good progress, having consecutive bigger months and incrementally increasing size.. After getting off to a consistent start, albeit a little complacent, to the month i started pushing my size even more. I did so irresponsibly. I was all over the place. I was bigger in B setups than i was in A setups. My judgement and decision making was totally clouded.
My response was: what are you going to do about it?
The market is at historically low levels of volatility and my strategies are not performing. What are you going to do about it?
Quant asset managers run the markets and thus markets trade differently than past. What are you going to do about it?
The market keeps finding a bid (BTFD), when that makes no sense to my trading. What are you going to do about it?
I keep making the same mistakes as a trader. What are you going to do about it?
As always, I welcome your feedback/questions at [email protected].
*no relevant positions