So very, very true:
“Sometimes you’re going to have games where you just have to grind it out. And the teams that can find ways to win these type of games are going to be successful.”
– Candace Parker, Professional Basketball Player, Chicago Sky (WNBA)
And so very applicable to trading.
Let’s create a trading version:
“Sometimes you’re going to have days where you just have to grind it out. And the traders that can find ways to win these type of days are going to be successful.”
There is one difference between professional sport and trading, though.
In sport, you have to play the full game until the clock winds down.
With trading, you don’t have to keep grinding until the market closes. You can stop playing whenever YOU choose.
And that is a massive advantage, because if you’re stuck in a fight and then find yourself slightly in front, you can call it a day.
Take that win. Close out the day with your mindset intact and ready to launch again when the new session opens the next day.
Common advice is to not trade your P&L. They say you should trade what the market offers and be accept the outcome.
Generally, that is good advice.
But there are always exceptions. And this is one.
Winners will find a way to win. And some days, that means you take whatever you can get.
And at the very least, if you do find a sudden windfall profit in a difficult session and decide that conditions do warrant further trading, set in place a daily trailing stop that does not take you negative.
Happy trading,
Lance Beggs