I know all of the greats like to say that “it’s just another day on the calendar and it doesn’t matter,” but f*ck those people!
It’s a new month and it’s a new you… if that’s what you need.
What are you struggling with in your trading?
Are you overtrading?
Are you not sizing up the biggest opps?
Are you piking trades or holding too long?
What is it that you’re struggling with?
For me, I’ve been a little more active than I’d like to admit over the last couple of months. Trading has been going incredibly well in the world of higher time frame mean reversion and overnight momentum trading, but I’ve thrown away more than I’d like to admit by front-running some trades in anticipation of a strong close (for an overnight momentum trade).
This has not served me well.
It has frustrated me.
It has cost me P&L.
And it has even put me in a negative mindset on a few days going into the close, where I ended up passing on some pretty good overnight trades.
It happens.
But I want it to stop!
I’ve brought back the infamous sticky notes, the kind noob traders in their mom’s basements and even at trading firms plaster all over their monitors.
Mine reads: “No front-running trades at all! You’re giving up $$$ from it.”
It’s upsetting that I’ve slipped a little in this department, as I take pride in being someone who isn’t active unless something so good from my playbook comes around that I really want to go for it.
So, for this month, that’s my focus. It’s not about nailing the next big mean reversion or overnight momentum trade as that’s going to happen anyway. Instead, it’s about no longer front-running trades, which has been causing frustration and a drift I’m not proud of.
It’s a new month, and it can be a new you! Focus on one thing you want to fix and see it through. At the end of the month, you’ll be proud of the progress you’ve made.
Cheers to a great month!
Kyle