A Weekly Update - Beginner Trader

The week before Thanksgiving was pretty good. My win rate was 50%, I had 3 wins and 3 losses. However, my biggest win was three times bigger than my biggest loss, so I did well overall! This upcoming week I will focus on 2 main things: Trading only the best setups when I see them. Not being afraid of the setups that I’ve been practicing lately, but with tiny position size. Another thing that I need to focus on is the positive outcome. In a weird way, whenever I’m trying to avoid a loss, I always lose. I talked about it earlier, and I see it more and more in my trades. In his book “Trading In The Zone”, Mark Douglas says that every tick that goes against you feels that much more if you’re afraid of losing. When you have this mentality, you are effectively looking for signs that you will lose. This is what I experienced last week when trading MYOV. I set my exit area too low despite it being close to a key area because I didn’t want to lose on trade after I missed the profit area earlier that day. So I ended up losing 5 cents. It wasn’t a big deal as I broke even at the end of the day, but it proves my point entirely. For the week ahead, my focus will not just be on seeing the positive and believing in myself, but also following my trading strategy closely. How about you? What’s in the store for you this upcoming week in trading?