It's a necessity for profitable trading. This week was better although still not great. I am focussing on improving my patience when accessing whether to enter a trade or to wait, especially as the market appears to be in a trading range and I know from experience that my strategy is not best suited to that scenario.
I was reminded of a story told by Tom Hougaard of a friend of his and fellow trader who had a strategy and was so disciplined in it's application and requirements with regards to entering a trade, he once sat and watched the DOW I believe, all day and didn't place a single trade. Superhuman patience is how he described it and that is what I was repeating to myself all this week.
My only real criticism of my trading this week was my inability to stay in a trade and use my technique for determining my exit and not emotion. I was better in some trades than others, but still not great because had I followed my strategy perfectly my 60 point week could've been 155 point week. But, as I talked about in my last post, yes, my job is to make points, but I don't have to make all the points.
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