According to Buddha, the basic cause of suffering is “the attachment to the desire to have (craving) and the desire not to have (aversion).”
Every morning I watch and listen to a youtube video provided by a professional trader. I call him my mentor even though I have had very limited contact with him; mostly via twitter. His name is Morad and he goes by the handle “@futurestrader71.”
We are unable to let go of what has happened and to look at it for what it is.
You have to look at each day in its own discrete outcome.
Each day has a 50:50 chance of winning regardless of your historical expectancy.
Each new day is unknowable as we approach it.
Recognize that each new contact you have with the market is unique.
I am not defined by the next trade, a series of today’s trades, this week, month, etc.
Just trade your plan and stick to your risk rules.
This requires an incredible amount of self awareness and self discipline.
We spend a lot of time avoiding loss because we want every trade to be a winner.
We attach ourselves to the outcome of a trade.
Instead, we must look for a measured loss that is balanced with a profit target for every trade, and our job is to take every trade.
Focus on deliberate, repetitive consistency.
Is your execution in line with your plan?
What is your expectancy, as measured in ticks and not dollars?
If I were to walk by your desk right now and ask, “What are you working on this week, or today?” – You must be able to answer without hesitation.
This post sat in draft form while I worked on transitioning to profitable trading by way of focusing on my process. I have been successful.