Well well well Mr. Moneymaker. It doesn’t appear you’re making much money. Clearly you are not as good as Mr. Powell.
What say you sir?
This is true. At the moment. As a trader I am not afforded making excuses as an option. So I will just keep it real.
A glance through my trade history will show several large one trade losses. I believe this is the gist of my current issues. That said, the mindset during those trades is what must be combated. My conclusion is too many contracts are being held in wait-and-see mode. The underlying mindset is believing you know what is about to transpire in the market. One must always trade from a state of i don’t know what’s coming next.
Fair enough. So how do you propose to combat this mindset going forward Mr. Moneymaker?
Mindsets can never be completely defeated. Discipline lapses will exist until the end of time. This is a casualty of the human psyche.
All strategy is ongoing in the quest for consistency. Thus I will employ the following.
*Reduce max open contracts to a total of 4
*Max of 3 on the MNQ.
*Max of 4 on the MYM.
*Only trade 1 contract in wait-and-see mode.
*Remember that this is a journey. Not a race to $3000 monthly.
Fair enough. And we will hold you to these strategy adjustments.
Any final words sir?
VERILY I SAY UNTO THEE.
I WILL NOT ALLOW THE MARKET TO DEFEAT ME ON MY MISSION.