O C T O B E R 2 0 1 9 N E W S L E T T E R
Dealing With Trading
Losing is painful. And losing day after day for long periods of time is
disorienting and potentially destructive. If you’ve only had winners
during a bull market, these losses can be psychologically devastating.
Months ago, you could do no wrong. Now, nothing seems to go right. It
is these difficult periods that shape who you will become as a trader.
Great traders are never made in bull markets, they are forged in pain,
adversity and challenges. If you are in a slump, that pain, adversity and
challenge is part of your development and formation.
Your first slump is part of your long term preparation.
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A trader noticed this one stock had lots of order flow on the buy-side.
The trader called the firm’s analyst, a well-respected expert on the
sector. This highly credentialed analyst was hot on the stock. He was
anticipating excellent results in the upcoming release. He seemed
plugged in, so his conviction was reassuring. The trader initiates a
The day before the anticipated announcement, the behaviour of the
stock started to change. The selling increased, and the selling
pattern was unusual, considering the expectations of the analyst. The
trader checked around for news and called the analyst back for any
updates. The analyst was still bullish. He hadn’t heard anything
unusual, but the action wasn’t confirming the expert.
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So you missed another trade. You knew it was going to go, but you didn’t
buy it. You had your trading plan set.
You were ready…then you hesitated.
You were filled with doubt and worried about another soul-crushing loss.
Now your missed trade is working without you, so you beat yourself up
with negative self-talk. You’re starting to wonder if you’ll get through it.
Will you be able to pick a winner ever again?
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