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Jun 06

Do you trade everyday?

I have been recording some good winning streaks all this while. Some may just be small profits, but a win is a win. Many visitors to this Full Time Trader site also commented that I recorded many wins. How did I do it? Well there is no secret about it.

I do not trade everyday. I might not even log into my IB trading account. But you know, being a full time trader wannabe, I tend to take many “glances” at the market every now and then if I decided not to trade on that particular day. Maybe it’s a habit, but I do want to keep abreast of the market or the stocks I am tracking even if I do not trade.

Now, why would I know trade everyday? Well, I have some historical trends that I saw in myself. I noticed that if I trade every day, every now and then I lose, and sometimes I lose BIG. I mentioned that I did wipe out my entire trading account several times before starting this website, have I not? I reflected that on. Every time I lost, I deposited money to fund the account. And then I would continue trading everyday. I will always record winning trades in the first few trades, then come the lost, sometimes BIG lost. Then the cycle would continue again. Maybe I became more and more confident and over-confident after a recording winning streak, I then lost my concentration, and thus the losing trade. This is a psychological issue of mine.

What I do now is I always take a breather. I take time-off from trading, maybe 1-2 days, to recondition my mind after a winning streak. Don’t get overly confident. Don’t break my own trading rules. And stick to the trading plan! Not trading every day might be good for you, at least it has for me.

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