Think Like A Trader Blog

Thursday, 3 May 2018

Today is Your Most Important Trading Day

Reading Time - 4 Minutes

Had a bad run of trades?

You sat down at the computer last week with your cup of coffee and your favourite pair of lucky slippers on, just another trading day. You were making good progress, and there was a little whisper from way back in your head saying, 'I think we can do this. We're getting there...'

And then you went into self-destruct mode. Trade after trade of emotional trading, the monster coming out of nowhere and taking control, firing off orders like a stereotypical office-manager flipping notes at the pole-dancer after one too many drinks.

It hurts. Hurts like hell.

But tomorrow will be different, right? You sit in the corner of the room after the trading destruction derby and feel awful about yourself. You go for a walk and try and figure this shit out. It needs to change and YOU need to change.

You get revved up and ready. Tomorrow will be different. You're going to change and become more disciplined.


Except, you've been saying that for six months, a year, longer even.

Until you come to realise that you only ever have TODAY to trade effectively, you are going to continue making excuses and mistakes.

Every day when you wake up and sit at that computer, that is your most important trading day. Not yesterday. Not tomorrow. Today.

You want to be a trader? You need to be willing to focus yourself TODAY. The discipline needs to be there TODAY. The ability to follow your rules ODAY and never mind how long your setup is taking, or the loss you made yesterday that you want to make back.

It sounds like it should be easy, but it isn't. We all have 'off' days. You know the ones where we wake up and it feels like a greyness has settled over the world. We don't want to work, we certainly don't want to do anything difficult.

But guess what? Today is the most important trading day. And when you are feeling like that, you should underline those words on a post-it and stick it to your computer monitor. Because those are the days when the damage tends to be done.

When you feel like that, try this... Just don't trade.

I'll give you a minute to get over that ground-breaking statement. It can be hard to grasp.

Today is your most important trading day. And every day, focus number one is protecting your account. If you feel like rubbish, the best defensive move can be to simply stay away.

Approach every day like it is your only trading day. Don't allow yourself to slip and then assure yourself that tomorrow will be better. In trading, you don't have a guarantee of tomorrow. That damaging behaviour you keep carrying out WILL one day pull your ability to trade from under you. The account will disappear and you will be left with nothing. It won't matter what you tell yourself on your walks or when you're rocking back and forth in the corner of the room. Because you will have allowed yourself to forget that TODAY is your most important trading day, and that will have finally caught up with you.

If you want to succeed, in trading or anything else, you need to come to terms with the fact that all you have is today to make it happen. Your focus and your drive and your determination needs to be there today. Not tomorrow. Not yesterday.

Think of the constant dieter. Always tomorrow. Always next week. And in the interim, they continue on with the destructive behaviour that continues adding to their problem and making it more difficult to overcome.

Now think of the person who loses all the weight. They decided that TODAY is their most important dieting day. All of their focus and determination went into it and they stuck with it on every today.

If you want it, whatever it is, go get it TODAY.

I hope you've all had a great trading week!

James Orr