{"id":9140,"date":"2011-01-06T23:24:20","date_gmt":"2011-01-07T04:24:20","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=9140"},"modified":"2021-05-11T15:51:02","modified_gmt":"2021-05-11T19:51:02","slug":"on-the-tenth-day","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/on-the-tenth-day","title":{"rendered":"On the Tenth Day"},"content":{"rendered":"
Elliot Wave, one of our new traders, was going for his tenth consecutive positive\u00a0trading day.\u00a0 It was not to be.\u00a0 He sent me an email why.<\/p>\n
Why I Failed to Make 10 Days in a Row Positive<\/strong><\/p>\n\n
On the Open today, I thought I could replicate the success of past momo trades<\/li>\n
I was focused on making a huge chop in the Open, and not the right trade, because I wanted to make a lot of money to have a cushion for the Close<\/li>\n
I let my emotions takeover my logic<\/li>\n
When my emotions are on overdrive I don\u2019t wait for the right set ups \nI traded for P&L, not for the right trade \u2013 this always leads to failure<\/li>\n
This gets at the heart of one of my problems – not being patient. Lack of patience costs me money.<\/li>\n<\/ol>\n
Good work here finding a lesson in a loss.\u00a0 Elliot Wave tomorrow is an opportunity for the beginning of a new streak while continuing to focus mostly on your trading progress.<\/p>\n","protected":false},"excerpt":{"rendered":"