Yesterday we sent home a trader.
Why?
To cement a small win from him which he can build.
The trader is just passing over his Year1 mark into Year2. This is the year where there are PnL expectations. At our firm our data suggests most traders experience significant improvement in Year2. Yesterday he was having one of his best days. And this after starting firmly positive and putting together a solid month.
It is important to put points on the board, or said another way PnL. You have to have success to have larger success. Back in the day, we used to say: Lock it in!
Our floor manager told the trader if he gave back about 25 percent of his profits for the day, we were going to shut him down and lock in a solid day. He did give back some. We did lock in his day. We did tell him to go home and enjoy the rest of the day with his kids AND……journal journal journal.
Journal the best practices that prepared him for this day. Journal the variables of the setups with trading edge.
Savor the train ride home replaying the best day. Tell your wife about it. Let the others on the floor see it. Start to think of yourself as a profitable trader now trying to be more profitable as opposed to a trader just trying to be profitable.
Trading is a journey. Locking in the small wins is an important step along the way.
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