Last Sunday I set the goal to try and eliminate some of the fluctuations on my P&L this week with more disciplined trading by staying more focused and I am happy to report that I achieved that goal!
I am ending the week +3,187 net! I am back this week to what I was achieving before the summer lull hit me with a vengeance. Granted it’s on the low side of my average week this spring, but still! I haven’t broken $3K in a week since April and it feels good to be back.
If you recall from my post on Sunday I went into this week wanting to cut out some of the “noise” on twitter and the IU chat room. I was able to do that well for the most part. I did not have a single trade where I let others influence my trading plan. I did not let other’s P&L’s and trades create FOMO. The only time I let my P&L influence me was today. I got a little too picky with what I wanted for entries for fear of ruining a good week. This caused me to miss a few good set ups on JAGX, KOOL, and GNC.
Overall, I am very pleased with my trading this week. My focus took a big step back into the right direction. Yesterday Tom Canfield (@Canny4) and Nathan Michaud (@investorsLive) made some comments on twitter that were spot on to what I was trying to accomplish this week. Tom said, “Tune it all out and get good at doing nothing. Find peace being ok with others making money while you don’t. There is no shame in that.” Nathan responded, “Someone is always making more. Always. Once you understand that, your head clears. YOU DO YOU. Period.” This is some wise advice. I am seeing first hand how important it really is. Not just with my recent struggles but for other newer traders I have spoken with. It will ruin your mental game if you don’t. Cause you to take bigger size sooner than you’re ready. Make you force trades to catch up to others. My goal next week is to continue to work on my focus and tune out the “noise.”