Yes, sometimes you do want to smash the damn keyboard!
But while it might feel good for a short while, that kind of mindset does little to help your trading.
So let's talk mindset. And specifically, one little tip that can help you quickly get back in the right frame of mind. Focused and ready to trade again.
Let's start with a higher timeframe 30 minute chart to get some bigger picture context…
So now let's drop to the Trading Timeframe (1 minute chart)…
Reference: The YTC Price Action Trader Principles of Future Trend Direction – Vol 2, Ch 3, Section 3.3.3, Page 145-153
You know those times when you just KNOW that you should exit… you just KNOW that the edge is gone… and you ignore it!
They never seem to work, do they!
Ok… I'm not at the "MUST SMASH KEYBOARD" stage.
I've played this game long enough that individual trade results don't worry me.
But I'm no robot. There is still frustration.
Not at the trade. But rather at my pre-session decision of "Hey, you know what I should do. I should work on holding trades longer. I think I've been cutting them too short too often lately!"
What is with that?
Changes in process are NOT made like this.
I have no doubt that my trade management is somewhat shifting in recent years to shorter holds and more of a "get out, get back in " style. But if I'm doubting that this is the most suitable approach, then any decision to shift back needs to be more than a simple pre-session decision.
It needs planning.
- Do the stats confirm that a more passive style would provide greater edge? Or not?
- Under what circumstances should I blindly hold till the target, regardless of any feelings that the edge is gone?
- And when should I instead trust my intuition and get out?
- Can I possibly "live test" both options, for comparison purposes over a month or two? Normal trading on NQ, but simultaneously trading on the micro MNQ contracts with a longer hold. Run both in parallel, as best I can, to compare performance over a period of time.
So while I'm not quite at the smashing keyboard stage, I am feeling frustrated.
And I promised you a tip on how to quickly get rid of that frustration and return to a more effective mindset.
Here's something I've been using for a little while. And quite liking.
(1) Allow yourself permission to be frustrated. Big time! Let it all out.
(2) But ONLY for the next trading-timeframe candle.
(3) Then it's game on. Back to the charts.
I want you to exaggerate step one. Vent. Curse. Yell. Shout. Let it all out.
But only for the next trading-timeframe candle.
Then it's game on. Back to the charts.
Give it a try. It's actually kind of fun. And perhaps that's why it's effective.
The quality of your upcoming trade decisions depends (to some degree) on the quality of your mindset. Frustration won't help. So let that frustration out. And then get your mind back on the job.