{"id":43202,"date":"2016-02-18T19:18:44","date_gmt":"2016-02-19T00:18:44","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=43202"},"modified":"2023-04-27T08:11:41","modified_gmt":"2023-04-27T12:11:41","slug":"die-hard-started-winning-again","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/die-hard-started-winning-again","title":{"rendered":"Die Hard starts winning again"},"content":{"rendered":"<figure class=\"tmblr-full\" data-orig-height=\"588\" data-orig-width=\"947\"><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"https:\/\/40.media.tumblr.com\/03898ea407e480a27f28e6763ab0f9e9\/tumblr_inline_o2rdvlcaJi1slheli_540.png\" alt=\"image\" width=\"458\" height=\"284\" data-orig-height=\"588\" data-orig-width=\"947\" \/><\/figure>\n<p>Die Hard is a senior trader who makes a ton of PnL.\u00a0 Unfortunately for him and our firm, he also loses a ton of PnL.<\/p>\n<p>This is actually a good problem to have for the trader willing to review and work.\u00a0 Many experienced traders aren\u2019t willing to journal and review and adapt.\u00a0 They want to just keep hitting the buttons and see things improve.\u00a0 They also inevitable have substantial bills to pay and focus on making money again quickly.<\/p>\n<blockquote><p>\u201cThe definition of insanity is doing the same thing over and over and expecting a different result.\u201d -Einstein<\/p><\/blockquote>\n<p>The problem is this cannot be their focus.\u00a0 They need to take a few steps back and reclaim their trading edge.\u00a0 They need to understand their good trades from their bad.<\/p>\n<ol>\n<li>What are your best trades?<\/li>\n<li>What are the variables of those trades?<\/li>\n<li>When do they tend to work?<\/li>\n<li>How can you prepare to find more of them?<\/li>\n<li>How do you stop missing them?<\/li>\n<\/ol>\n<p>Short term experienced traders tend to trade their ideas without overlaying variables that will bring more edge.\u00a0 Said another way, they just trade their thesis.\u00a0 Instead of trading, for example, a much better trade:<\/p>\n<blockquote><p>Thesis plus<\/p>\n<p>News catalyst plus<\/p>\n<p>Price confirmation (or they see it!) plus<\/p>\n<p>Fight for price<\/p><\/blockquote>\n<p>Evernote and Tradervue are excellent tools for review.\u00a0 On our desk we teach traders to keep their trading journal open during the trading session and make notes as market trading lessons arise.\u00a0 This also helps traders focus on growing as a trader instead of making PnL.<\/p>\n<p>If you make a lot of PnL, but also lose a lot of PnL you are in a good place.\u00a0 Take a few steps back with your trading.\u00a0 Study your strengths.\u00a0 Write them down in detail.\u00a0 Lower your risk.\u00a0 And then slowly raise your risk as you show positive trading results.<\/p>\n<p>The result? Die Hard has started winning again as a trader.<\/p>\n<p><b>Related Posts<\/b><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/30-trading-habits-in-30-days-journal\">30 trading habits in 30 days- Journal<\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/10-ideas-to-create-a-good-trading-journal\">Ten ideas for creating a good trading journal<\/a><\/p>\n<p>*no relevant trades<\/p>\n<p><a href=\"https:\/\/tradingworkshop.com\/\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-42831\" src=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/03\/smbwebinarsignup.jpg\" alt=\"tradingworkshop\" width=\"600\" height=\"300\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Die Hard is a senior trader who makes a ton of PnL.\u00a0 Unfortunately for him and our firm, he also loses a ton of PnL. This is actually a good problem to have for the trader willing to review and work.\u00a0 Many experienced traders aren\u2019t willing to journal and review and adapt.\u00a0 They want to just keep hitting the buttons &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/die-hard-started-winning-again\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[4202,3728,2104,2484],"class_list":["post-43202","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","tag-die","tag-hard","tag-started","tag-winning","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Die Hard starts winning again | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/die-hard-started-winning-again\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Die Hard starts winning again | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Die Hard is a senior trader who makes a ton of PnL.\u00a0 Unfortunately for him and our firm, he also loses a ton of PnL. This is actually a good problem to have for the trader willing to review and work.\u00a0 Many experienced traders aren\u2019t willing to journal and review and adapt.\u00a0 They want to just keep hitting the buttons ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/die-hard-started-winning-again\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2016-02-19T00:18:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-27T12:11:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/40.media.tumblr.com\/03898ea407e480a27f28e6763ab0f9e9\/tumblr_inline_o2rdvlcaJi1slheli_540.png\" \/>\n<meta name=\"author\" content=\"Bella\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bella\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading 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