+19 Points – The Trading Week in Review – June 14th to 17th
Day trading Emini S&P 500 (ES) futures this week was quite the ride! I'm certainly happy with the overall result because as a trader I know that 19 points in a week while only risk a max of 1.25 points per trade is nothing to scoff at. That's a considerable reward for the amount risked per trade! It's also very much in line with some of the previous weeks and as I constantly say, consistency in this business is everything. That said, I'm still a bit disappointed with my performance at times during the week and see plenty of room for improvement.
When it comes right down to it that's a big part of what makes trading so enjoyable for me. Even though I've been a full time trader for many years now I find that there's always room to improve, not only in terms of your market knowledge and execution but also in the mindset you take into the markets each day.
Each and every day presents its own challenges and new opportunities to learn and grow. There's no such thing as "just another day" in the markets or the kind of daily grind most professions have - as a trader you need to be prepared for the task at hand and always looking at ways to improve your market interactions if you're going to trade at an elite level.
I love that about trading. How can you get bored when every day is different, fun, and challenging in that way? Having run businesses in the past where there were some VERY repetitive tasks I had to regularly do I feel quite thankful to be able to do something now that has me looking forward to each session in the markets.
All that said, why was I disappointed at times during the week? Mostly because I let my focus slip a bit and didn't really execute the way I wanted to. If you haven't watched the daily recap videos on the STA YouTube channel already then you can click the link below for Thursday's session to see what I mean.
I came into the session a bit tired, a bit unfocused, and it showed. I missed quality trading opportunities, made a few mental mistakes, and just generally wasn't anywhere near "the zone" in terms of my mindset.
I still ended up with +3 points on that day but that's not really the focus for me. I don't really care too much if I make a few points or lose a few on a single day. I care about how well I followed my trading plan, if I took good trades that fit my rules and managed them well, and if I analysed the market objectively rather than emotionally. On that particular day I can say that even though I ended up with profit it wasn't really a good result by my criteria.
And that means I have room to improve. Room to grow. After all these years I can continue to challenge myself to be better in my mental approach because I know it will be reflected in my discipline, my patience, and my results over time. The enjoyment I get from learning, finding new challenges, and overcoming them is why I'll always remain passionate for the markets and why I'll never regret my decision to become a day trader.
The Trading Week in Review - June 14th to 17th
Since I know many regular readers of this blog aren't subscribed to our YouTube page I will also be including some links to the daily recaps from now on. You can just watch the Week in Review video below if you want a quick summary but if you want to dig into each trading day in more detail then check out the links below.
Video Recap for Tuesday, June 14th
Video Recap for Wednesday, June 15th
Video Recap for Thursday, June 16th
Video Recap for Friday, June 17th
- Strike While The Iron is Hot - March 1, 2021
- The Path to Becoming a Full Time Trader - February 22, 2021
- Looking to 2021 and Beyond - January 20, 2021
