"One of those days"-- the art of "Locked out"
Recently I participate in an analyst competition, and I got eliminated in the trading sections.
Having an established trading system and strong mindset doesn't mean I make profit in every single trading days, as everyone would agree.
That's why we need a daily risk ceiling, if hit, we don't trade anymore,which is called being "locked out". usually 6% (2% per trade basis)
Being locked out is just one of those days, I would like to make so much profit every single trading day,
so all I did in trading was finding opportunities that matches my trades before being locked out.
While,in terms of frequency , basically 2 out of 5 trading days will be locked out as inside bars are not a strategy with high winning percentage.
"One of those days" is what I will talk to myself to stay calm, but when a short-term intraday competition happen to be one of those days,
that's when people will challenge your strategy or even trading ability, and that's pretty much offending to me, but the world will always focus on the result.
Keep fighting and keep trading, do the proper risk management, and not being influenced by one of those days.
Having an established trading system and strong mindset doesn't mean I make profit in every single trading days, as everyone would agree.
That's why we need a daily risk ceiling, if hit, we don't trade anymore,which is called being "locked out". usually 6% (2% per trade basis)
Being locked out is just one of those days, I would like to make so much profit every single trading day,
so all I did in trading was finding opportunities that matches my trades before being locked out.
While,in terms of frequency , basically 2 out of 5 trading days will be locked out as inside bars are not a strategy with high winning percentage.
"One of those days" is what I will talk to myself to stay calm, but when a short-term intraday competition happen to be one of those days,
that's when people will challenge your strategy or even trading ability, and that's pretty much offending to me, but the world will always focus on the result.
Keep fighting and keep trading, do the proper risk management, and not being influenced by one of those days.
