Some Days are Just Losing Days!! Sept. 28th Futures Trading Levels 9.28.2022
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
Some days are just losing days!!
Don’t fight it. You will have losing days. I have been in the futures industry for 22 years now and never have I met a trader who did not have a losing day…and I will never meet one….impossible.
Understand it and accept it. One of your hardest jobs as a day trader is to make sure a losing day does NOT become a disaster…Our human emotions and our brain is not programmed very well to learn how to lose. Yet one of the key differences between traders and those who try to become “traders”…is that traders first learn how to lose. They understand losing is part of trading. The others, refuse to take a losing day and will make many mistakes along the way to make a “normal losing” day into a disaster. That may be carrying positions overnight when they normally don’t, reversing, pyramiding and many other mistakes that they would normally not make. That turns a “normal losing day” (maybe for an account of $10,000, a normal losing day would be down $700?) into one of those days where they wipe out half of their account, if not more.
Have realistic expectations. Under the statistics of your own trading. Keep notes.
Sometimes we need to learn how to lose before we can excel in trading.
As always, plan your trade and trade your plan. Please contact your broker or Cannon Trading with any questions.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
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09-28-2022
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