Joe

You need to change your perspective about the markets; trading mistakes aren’t something to beat yourself over. Your ability to move on from mistakes, losses, and focus on making better decisions on your next position is an undervalued skill, necessary in our business. You see, trading is the psychological business of making money. Your inability to quickly move on from errors & losses is stunting your equity curve. A few years ago, I watched what is now one of my all time fav videos on trading psychology from a floor trader named John Rambo. His trading philosophy was simple: YOUR MOST IMPORTANT DECISION IS THE NEXT ONE, YOUR MOST IMPORTANT TRADE IS THE NEXT ONE. It became the basis of my trading psychology. Most great athletes have this ability to make multiple errors in a game, but no one remembers it because go on to produce a great performance. You’ll never see Lionel Messi or Cristiano Ronaldo miss a penalty, and then go into hiding for the rest of the game. You’ll never see Kobe miss a free throw, and go into hiding the rest of the game. A loss doesn’t mean you suck, it is a necessary component to risk-taking. Inability to quickly move on from a loss or a mistake shows a lack of maturity and experience, both of which are necessary for consistency.