{"id":45022,"date":"2015-11-01T01:41:53","date_gmt":"2015-11-01T08:41:53","guid":{"rendered":"https:\/\/brookstradingcourse.com\/?p=45022"},"modified":"2015-11-01T01:41:53","modified_gmt":"2015-11-01T09:41:53","slug":"making-profit-then-passing-on-trades","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/ask-al\/making-profit-then-passing-on-trades\/","title":{"rendered":"Ask Al: Making profit then passing on trades"},"content":{"rendered":"

BPA trading room Q&A: September 28, 2015<\/h2>\n

When I\u2019m making some profit, I tend to become very careful in my decision-making and I end up missing a lot of trades. What should I do?<\/p>\n

Audio duration: 3min 45sec
\n<\/em><\/p>\n

 <\/p>\n

Audio transcript<\/h2>\n

Making profit but then being too careful<\/h3>\n

\"tradingThat\u2019s okay. Here\u2019s my thought on that. Let\u2019s say you had a pretty good day and you get three or four scalps, one or two points in a row\u2026 three points, eight points, some number of points. And now you\u2019re starting to get scared; you don\u2019t want to give any of it back. You\u2019ve probably made more points than you typically do, and you probably made them earlier in the day than you typically do, and you\u2019re thinking, \u201cOh, my gosh, I can\u2019t blow this. This is a gift. I just can\u2019t blow this.\u201d<\/p>\n

That\u2019s fine. Don\u2019t worry; don\u2019t trade. That\u2019s okay. If that\u2019s where you are in life as a trader and your emotions are preventing you, or interfering with you doing what you want to do, don\u2019t trade. I never question why I feel a certain way. I never try to make myself un-feel that way. If I feel sick, if I feel tired, if I feel sore, if I\u2019m distracted by something else going on in my life and I feel like I\u2019m not at my best, I don\u2019t trade. And so I\u2019ll end up missing a trade or two, sometimes a whole bunch of trades\u2026 I don\u2019t care. All I know is trading is tough when I\u2019m at my best. It\u2019s impossible if I\u2019m not at my best. It does not matter what the reason is why I\u2019m not at my best; if I\u2019m not at my best for any reason, even if it\u2019s because I just made an unusual number of successful trades and I\u2019m scared about giving any of it back, that\u2019s a reason. If that is interfering with your ability to be objective, don\u2019t worry. Just sit back and watch the rest of the day or keep watching until you\u2019re able to trade again, and don\u2019t worry about it.<\/p>\n

The market is hard enough on you. Your friends, your wife, your kids\u2026 they\u2019re all hard enough on you. Your husband\u2026 they\u2019re all hard enough on you. You cannot be hard on you. You got to take really good care of yourself and only trade when you\u2019re at your best.<\/p>\n

Up against a trading hurdle? Passing on good trades?<\/h3>\n

\"EdwinA couple times, I\u2019ve mentioned Edwin Moses<\/a>, and probably only a few of you know who Edwin Moses is, but I think he\u2019s a remarkable athlete. Back in the \u201880s, maybe the \u201890s also\u2026 track and field; he ran the hurdles, the 400-meter hurdles. It was one lap around the track. He was the world record holder at one point. And when you run professional track, you get money for coming in first place and if you hit certain milestones, like records, you get certain money. I\u2019m sure his sponsors gave him certain money\u2026 a certain amount of bonus money for doing different things.<\/p>\n

Anyway, Edwin Moses won, I think, 88 consecutive track meets in the 400-meter hurdles, which is crazy. Usain Bolt has not won 88 consecutive track meets and he\u2019s the greatest track athlete who\u2019s ever lived. But the difference is Edwin Moses ran track like I trade, and if ever he did not feel 100 percent his best right before the race–he\u2019d be in the stadium–if he felt anything less than 100 percent, he\u2019d scratch, he\u2019d pull out of the race. And a lot of traders [athletes] complain \u201cThat\u2019s not fair. I never get to beat Edwin Moses, and he gets to beat me because when I\u2019m not feeling well, I still run. I need the money — even if I come in third place, I get something. But when he doesn\u2019t feel well, he doesn\u2019t run so I never get to beat the guy.\u201d<\/p>\n

But he does illustrate an important point that I think is applicable to trading: If you really don\u2019t feel your best, don\u2019t trade. It doesn\u2019t matter what the reason is, you just don\u2019t trade. You\u2019re competing against the very best people in the world and if you\u2019re not at your best, you\u2019re going to lose. Edwin Moses knew that and he didn\u2019t want to lose, so what he would do is he\u2019d simply not run on days that he didn\u2019t feel his best.<\/p>\n

So, if for any reason you don\u2019t feel like trading, don\u2019t trade<\/em>. That\u2019s okay.<\/p>\n

Al Brooks<\/em><\/p>\n

Information on Al’s Online day trading room<\/a><\/p>\n

\n","protected":false},"excerpt":{"rendered":"

BPA trading room Q&A: September 28, 2015 When I\u2019m making some profit, I tend to become very careful in my decision-making and I end up missing a lot of trades. What should I do? Audio duration: 3min 45sec   Audio transcript Making profit but then being too careful That\u2019s okay. Here\u2019s my thought on that. […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[159],"tags":[],"class_list":{"0":"post-45022","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-ask-al","7":"entry","8":"has-post-thumbnail","9":"override"},"featured_image_src":null,"author_info":{"display_name":"BTC Admin","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/richardhk\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/45022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=45022"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/45022\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=45022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=45022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=45022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}