The Market is a War Zone

Hey,

How did you find yesterday?

For me, it was a tricky, choppy day.

And it was a good lesson on risk management.

Witness my trades made yesterday, here.

Even though I ended down, it would have been far worse without my due diligence in following my risk management.

The key was I started off trading only a couple of contracts – a great way for me to see if I have “a handle” on the day’s action.

My plan was to only increase my position size after a few wins.

I put on some high-probability trades and the result was 3 losses, 2 scratches, and 1 win.

The fact they didn’t work out stung a little, you can never fully remove your ego from your results… but…

Each loss was controlled and small in terms of points.

And my position size remained at 2 contracts.

So after stopping I was effectively only down 3 points ($325) which is easy to make back in a single trade.

Emotional management is key to avoiding going crazy, spiraling out of control, and wrecking your account.

So it was a good decision to stop one and a half hours into the session and rather than trading my PnL just wait for the next day.

Let’s get it today, and watch out for Mr Powell at 6:30 PM.

Korbs.

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