I heard on the Street that many day traders struggled in December and January. \u00a0I know there were some on our desk who were disappointed with their results. \u00a0 Over the years I have been offered data from the market that I was not going to succeed as a trader. \u00a0I was offered this data when I first started (starting down $36k to start my career), and I am offered this same data periodically during every trading year. \u00a0In the spirit of March Madness I offer a thought for you to ponder. \u00a0The good trader during these lows just tries to survive and advance.<\/p>\n
I am very proud of my desk. \u00a0Some individually were offered data that they would not be a successfully profitable trader in December and January. \u00a0This of course was after they killed it in the Fall. \u00a0But almost all did not succumb to this temptation. \u00a0They continued to work. \u00a0They came in everyday and grinded it out. \u00a0Many focused just on getting better everyday. \u00a0The desk’s mood has been downright and rightfully giddy about their trading results of late.<\/p>\n
At SMB there are webinars everyday that offer suggestions on how to improve your trading. \u00a0We offer a ton of individual instruction and specific trading advice. \u00a0But there is one thing that we cannot teach. \u00a0And that is the ability during these lows to survive and advance. \u00a0This comes from inside the individual trader. And this is true even though Steve and I will offer reassurances that we have been through times like these.<\/p>\n
I do not know a successful trader who at one point was not offered trading data that he would not be successful. \u00a0I do not know one successful trader who has not doubted their ability to continue trading. \u00a0I do not know one successful trader who has not had to right the ship. \u00a0There will be difficult times. \u00a0This is inevitable. But the good trader hangs in there and waits for clear skies. \u00a0And then he uses his past lows to become an even better trader.<\/p>\n
I have traded through the Asian Financial Crisis, the bursting of the Internet bubble, 9\/11, and now the near collapse of our banking system. \u00a0Through every crisis I have taken some huge losses initially. \u00a0I have doubted my ability. \u00a0But simply I made adjustments and hung in there. \u00a0Each crisis has made me a better overall trader.<\/p>\n
So if you are struggling please do not succumb to human nature. \u00a0Do not convince yourself that you cannot become a successful trader. \u00a0This is your opportunity to improve as a trader. \u00a0Make a list of things you need to improve. \u00a0And start working on them one by one. \u00a0Keep searching for your solutions. \u00a0Do what the good traders do. \u00a0Survive and advance.<\/p>\n
BTW I am hoping that UConn\u00a0will survive and advance tomorrow.<\/p>\n
Best of luck with your trading!<\/p>\n","protected":false},"excerpt":{"rendered":"