A little different when I start talking about the amount of money that you can make rather than the amount points isn’t it? The important thing that everyone has to know about the stock market, and specifically day trading, is that you should not think about the money. It is counter intuitive I know, but the whole focus when you day trade should be to win not to make money.
When we think about the money our emotions get involved, we get greedy, and we start losing money
It happened to me today, look at my results on the second and third trade of the day, I could have made a bit more money on but I didn’t because I got greedy. It’s ironic because most people get into day trading to make money when most people don’t realize that day trading is not about making money, day trading is about being right.
It’s a giant mind game when you try to wrap yourself around the idea that the only focus should be to win. If you are able to be right more than you are wrong consistently throughout the year then you can be a successful day trader. Its about having winning more than you lose and having your winners be more than your losers.
I have some very exciting news for tomorrow so make sure you stay tuned us tomorrow is the beginning of the military training program. It’s where I sit one-on-one with a day trader in order to get them past the hump. Very Excited!
I do have to be responsible let you know that there is a disclaimer about the results today and any results I post on the site. These results are assuming 10 contracts, I trade anywhere between 10 to 50 contracts with my day trading strategy.
Click here to see the complete list of Market Recaps
Thanks for posting. Really great to see how you trade and I managed to follow most of it after going through your course material!