We've just had another good week trading ES, no matter what happens we know we have to do what is right and not what makes us "feel more comfortable", it's the only way to be successful in trading.
Many traders know exactly what to do, where to jump in and out, what position size to use, how to make a good risk management using the correct STOP order size, not too big nor too small, and also have a well funded account but they still fail to succeed in this business! Why's that?
Instead of trading to win they might be trading not to lose!
If a trader does not have the right mindset to trade, he will end up making some small little mistakes that will keep him apart from being successful, a small detail will prevent them from making money.
They take trades only to give up after it runs a couple of ticks, taking profits too early, letting emotion get in the way of what would have been a real good trade. Or getting out of the trade with a few ticks of loss not giving enough room for market to breath, they get out of a good trade even when their STOP LOSS orders have not been hit, and that's what will make them lose money, because they give up on trades that would be profitable in spite of knowing that for every 10, 20, 50 trades they take there will be a certain number of losers but the great majority, provided they have a proven trading methodology, will work as expected giving them profits that quickly add up towards a winning week and month.
On the other hand if a trader is not disciplined enough to pull the trigger when the setups that matches his criteria are in play, frustration will make him lose more and more as he will end up taking "revenge trades" outside his initial plan trying to quickly recover from a loss or missed good trade making him lose even more money and making it each time more and more difficult to meet his goals.
The only way to be successful in our business is to have an edge, a system that will allow you to take setups that clearly meet a certain criteria and that will put statistics in your favor, like the casinos do, and from every 10, 20, 50 trades you know most of the trades will work as expected but some of them will fail and there is nothing wrong with that.
Don't trade another single day without having clear rules to follow, rules that you know will help you go from point "A" to point "B" in the least amount of time, in the beginning it might be painful to be 100% disciplined, you will need to break the initial barriers that are holding you, those are the hardest to break, you will have to crawl before you can start walking, and finally in the near future, after breaking that wall, you'll be able to run!
I have years of stats from our system results and I know it highly pays off week in, week out, those who are able to follow the rules at least 80% of the time, yes even those who are not able to religiously follow the rules 100% of the time will still be able to consistently grab profits, but those who aren't, are sure to be on the side of the great majority of traders, the 90% of losers in the markets.
Trust me, market will reward big time those who no matter what do the right thing day in, day out, taking money from those who have no patience and discipline and giving it all to the disciplined traders.
So use a trading system you know works, if you don't have one there are several of them available on the Internet, mine is just one of them, a really good and simple to follow trading system, the Diamond Setups, I've been using it for more than 8 years now and I assure you it works like clockwork, allowing you to have a free state of mind focusing on the good execution of your trades only.
To Learn more, click the link ==> Diamond Setups