Sometimes You Get It Wrong Before You Get It Right

 

On Tuesday I shared one of my older facebook posts via social media. Copied here:

Stop expecting perfection. Instead, learn to manage your imperfection. 

Repeating the key points for effect:

  • Learn to survive… and even occasionally profit… in the times when your read of the market is wrong.
  • And that will leave you with confidence to attack the opportunity available at the times when you are in sync with the market.

 

I sought out this old post in response to a similar sequence on Monday.

One in which I was positioned wrong in the market. Not once, but twice.

Before taking a step back from the charts and looking with a wider perspective and switching to the right side.

Here is Monday's opening sequence:

Wrong - Wrong - Right

In email Q&A with a reader (Josh) during the week, he asked me the following question, "Do you feel like you're in sync with the market everyday?"

Great question.

The reality is that no, I'm not in sync with the market every day.

There are many times when I've approached the market in a "less than ideal" mental or physical state and it has clearly influenced my ability to get in sync with price movement.

And even when in an optimal state, there are many price sequences which are not simple to read.

That's the nature of price movement – traps, retests, fakeouts.

The market seems at times to take great delight in deceiving us.

So our job as traders includes the following:

  • Managing those times when we're not in sync with the market to ensure we contain any loss and prevent it getting out of hand. Profiting of course, if possible, but our priority is to limit the downside and stay in the game.
  • And then recognising when we are in sync with the market so that we can squeeze as much profit out of it as possible.

 

Wrong - Wrong - Right

Wrong - Wrong - Right

Here is the link to last week's article if you missed it – http://yourtradingcoach.com/trading-process-and-strategy/trading-an-uncertain-trend/

Wrong - Wrong - Right

Wrong - Wrong - Right

Wrong - Wrong - Right

Wrong - Wrong - Right

Wrong - Wrong - Right

Once more:

  • Learn to survive… and even occasionally profit… in the times when your read of the market is wrong.
  • And that will leave you with confidence to attack the opportunity available at the times when you are in sync with the market.

 

Don't expect to always be in sync with the market.

Sometimes you have to get it wrong a few times, before you can get it right.

Happy trading,

Lance Beggs

 


 

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YourTradingCoach - Admin

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