“Trading Psychology is BS!” The Undeniable Importance of Trading Psychology

Jul 20, 2018 – Whoa, Anxiety

Premarket Insight

Volume looking pretty strong early today with NQ over 62K before 08:00 EST (my start time). Nothing on the calendar for today but still could be an interesting day with this volume, plus there has been decent movement already mostly bearish. Again, may wait for the market to open before taking a trade just for capital preservation. The moves are typically better after the bell.

Some pretty interesting earnings will be released today: Microsoft, GE, Honeywell and Skechers.

 

At the Bell

Didn’t take a play in the premarket and a good thing because everything in NQ would have been a loser. However, that may have made me a tad wee bit anxious by the time the market opened because I started placing orders totally outside of my strategy like a complete idiot. LOL

 

COB Recap

Started the day red, took some good trades after getting myself together but never completely recovered. Actually, could have if I wouldn’t have loss my discipline feeling the after-effects of those early bad trades and overmanaged what would have been a very successful trade.

On another note, finally made the transition completely over to the new AMP account. Will still keep Generic Trade open in case I find a use for it later.

What an “interesting” week it has been. Even though I’m ending the day red, I’m still growing, making small improvements with each mistake and failure to become a better trader. As long as the world doesn’t end over the weekend, there will always be Monday!

 

The big mistake. Click the image for more details.

 

 

For real-time insights follow me on Twitter! @Mv3Trader

 

Comment below with your opinions and questions.

 

Rob

Mv3 Trader

“Trade Consciously”

 

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