Art of the Chart - TAking Requests!

Welcome back traders! I hope you've had a great week and are pumped for the week ahead! We've got to finish Q2 off strong! That leads me to the quick-tip that I usually toss in, to give some meat to these TAking Requests posts: don't gauge yourself on day-to-day profit or week-to-week profit. Gauge your P/L by quarter. You need to let the Law of Large Numbers work in your favor, and if your strategy has a predetermined edge that you've backtested out (as it should, else you wouldn't be trading it), you need to let that edge play out in the market over the course of a decent sample-size of trades. ANYONE can lose a single trade. ANYONE can lose 2-3 trades in a row. It's inevitable. There can be down weeks, or even down months. Gauging yourself based on those time parameters will just drain your mental capital. When your mental capital is drained, your mind will whisper, "You're not good enough", "You can't actually do this, who are you fooling?". Don't get to that point.

Read →