Professional trading

[Ninja]

As time has passed and I have spent more and more time trading I see my understanding shift quite fundamentally. Good trading is not about money....the job of a trader is not to make money but to trade well, just as the job of a salesman is not to make money but to sell well. This immedieatly means your position size is reduced, your trade is adhered to as per your system and each and every trade is recorded, analysed and learnt from. Satisfaction comes from doing your job well, trading well, not from the profit of the trade. In fact a poorly executed trade that is very profitable should leave you with a sense of dissapointment and frustration whereas a well traded trade that takes a small loss as per your system rules should leave one feeling in control of the job and not at the mercy of the market. Trading is not about making money, no it is about trading well. It is an easy concept to discuss, but after 5 years of trading this is finally a permanent part of my psyche - my trade record for each and every day is my primary focus. Making money is simply a by product of doing your job well.

[Oom_Boom]

Ninja, I couldn't agree with you more. Very well said. When I started trading I was a like a mad dog, taking huge risks, making big gains and sadly, taking big loses. I have scaled down and am moving from a 'boom n bust' trader to a consistant winner. I still look at a winning trade and daydream there was an extra zero or two at the end of the margin amount, thus confirming to me that I still have to grow into a trader where the money does not matter, just to trade well matters.

[Terra]

Good post. I Agree 100%... took a small loss this week and rated the trade 9/10, and make a profit this morning and rated the trade 3/10. Sounds crazy.......

[CrownA]

***** man! You are just trying to justify your own pitiful performance. All those nice feelings go away when you make a killing, or a huge loss.

[Ninja]

CrownA...thats the point.....you should never be making a huge loss.....a huge profit sometimes, but never a huge loss. Any loss that takes more than 2% of your capital is unacceptable. Remember a well thought out strategy rewards you with unlimited profit potential married to capped loss potential that is predetermined before you enter the trade. The trade becomes a business transaction devoid of extreme highs and lows because if you get stopped out its a small loss and you know you will recover the loss in the trades ahead. Your capital grows steadily week in and week out as does your trading experience.