What a day!

I finished the day 30/35 trades = 85%+. That’s the highest single-day % I’ve ever had trading where I’ve made over 20 trades. I finished the day going 20/20 which exactly doubles my prior longest winning streak.

That is the good news. Now the bad. This morning I made a series of pitiful counter-trend fade plays that nearly cost me the shirt off my back. I compounded the problem by adding to the fade at the next pivot until I closed it all off for a combined loss of 50 ticks!

That easily wiped out the profit I had made up to that point and put me in the hole. I then found myself chasing my losses and entering another couple of counter-trend plays that hindsight says were bad trades that happened to go my way eventually which cut my loss by about 1/3.

But today, unlike Monday, I felt mentally sharp and decided to stick with it and get back with the game plan. I was then able to catch some fade-plays that were solid as well as a string of very nice scalps.

By lunchtime I was back to even and on an 8 trade winning streak. So after lunch I said to myself that I’d go for a new consecutive win-streak (which stood at 10 at the beginning of the day)…. I never stopped trading until the markets closed going 12 out of my next 12 trades going into tomorrow with some nice momentum.

I finished the day (net of commissions) up 56 ticks (I trade the ER2).

I learned a lot about myself today:
1.) That I need to be more careful about chasing my losses and set up some additional rules to help mitigate any losses that are getting too high
2.) That if I do have mental clarity, the right attitude & can forget about past losses, I have what it takes to make a lot of money with this whole trading business.

I have now gone 4 out of the past 5 trading days with a win-rate of 75%+ after only having had 1 such day prior to this run. I can easily say that i feel as if my trading is finally turning the long sought-after corner of consistency and I’ve never felt more optimistic.

That being said, I now must be on guard against the emotional demon called over-confidence. But I’m definitly up for the task :)