Taiku joining me today – let’s go!

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Yesterday was a pretty crazy day of action for the markets, but after watching the last month, I guess violent moves for no reason are the “new normal?”

Nothing shocks me anymore.  I just want to try and be on the right side of as many trades as possible.

Yesterday, (much like the KC Chiefs!) I fumbled the ball on a nice day trade that I set up.  I had the right pulse on market direction.  I had the right trade I wanted.  I had the trade plan in place.  I still managed to screw it up!

If you are in my Alpha Hunter service, you saw the QQQ 0DTE put spread I opened around noon, I closed it about an hour later for a tiny profit because I “was bored” with it. 

The stock didn’t hit my stop loss or my profit trigger, but I started to let emotions get the best of me.  I started to “feel” like things could break down, and I would take a loss on a trade.

The funny thing is that the trade really never flirted with much of a loss and I didn’t even have a full-sized position on – I just got scared.

Now, I am a pretty risk-tolerant guy.  I LOVE risk!  Why this little trade got inside of my head is something I will be thinking about over the next few days as I have my 4th serving of pie.

Now, if the market dumped after I sold, I would consider myself a genius, and my well-honed gut instinct saved the day again, instead of sticking to my trade plan.

But, that didn’t happen.  Within a couple of minutes, after I closed the trade, QQQ started to finally rally. Had I ignored the voices in my head, I would have locked in another 50% winning trade in the next few minutes that followed.

Anyways, I share this little story with you as a reminder that we can all make dumb decisions.  Those decisions typically are the result of letting your emotions take control, and cause you to ignore your game plan.

My job as a trader is to trade.

I have the right tool set ⚒️.  I know how to execute the trades. I know how to be patient and spot the right setups.

My biggest mistakes come when I deviate from the plan and either try to “get ahead” of a move I think is going to happen, or I let fear get the upper hand.

I just want to encourage you today to reflect on your own trading. Are you coming to the table with a solid game plan and then executing on it?  

After you make a trade, are you letting the “fear gremlins” take over?  Learn to tune them out and just let the trade you made play out – for better or worse.

Fear usually gets the best of me when I try to overthink what I just did, and I start to remember all of the bad feelings that were caused by previous bad trading decisions.

I also let fear creep in when I know I have too big of a position on.  When I trade too large, I get anxious and end up messing the trade up instead of hitting the home run I imagined when I started the trade.

I need to stay disciplined with a constant trade size, and then leave the trade alone. 

That is a lot more than I intended to write on that little trade, but I did a lot of thinking about it.  It is something I think we can all learn from.

Now, today I have a special guest joining me for my weekly “Training Tuesday” session in Alpha Hunters.

Assuming all of the technical bugs are squashed, I will pull the curtain back and introduce you to our very own Alpha Hunter member – “Taiku”!

We will have a live discussion today during our 2pm EST session today, and I really hope you can join us.  Taiku is a fantastic trader, if you have seen him in our chat room, and you will learn so much by hearing about his experience as a trader and how he approaches the market.

Tune IN to the RB MarketMaster’s Room at 2pm EST TODAY to hear from me & Taiku!

To YOUR success,

P.S. Check out Taylor Conway’s newest lesson on futures trading!

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