Sunday, January 11, 2015

Influence vs Motivation

How many times have you seen the PnL's of other traders putting up four, five, even six figure days and said to yourself, "I cannot wait for that day" only to find yourself the next day in the red and seeing the same traders putting up huge numbers relative to your profitable days?




















Just a couple examples, I am sure we've all seen these on the Twittersphere. Myself, being pretty new to the game would see these and think, "Boy am I in the right business." The next day I would push some more size because I want to quickly get to the level of these elites. Can you guess the result? Blood everywhere, why was this? I had dollar signs in my eyes every time the chart made a tick and why was this? I was trading with uncomfortable size to double, triple, heck quadruple the potential profits I would be earning so I can sprint to the top. So as you can guess my losses would then double, triple yada yada.

Point being is, let these posts motivate you and show you what is possible. When you're still working that 9-5 with a chick spraying body spray like she's putting out a fire and you've got a red day and you're questioning why or if you can really do this - allow these post to motivate you through the downward spiral of a beginning trader's life. You're doing this so you can, if you work hard enough, enjoy your life living the definition of freedom. But DO NOT, stamp this on your forehead, DO NOT let these influence your trading.

What does that mean? Don't let these influence how much size you're throwing down AT ALL. Hide your PnL, patience for the set up, attack accordingly to your account size. You've heard this time and time again, its a marathon not a sprint and good things take time so don't rush it.

After all, what good is the end result if you aren't enjoying the grueling journey there? Take it easy - "trade well and profits will follow."