How do you exercise emotional control? Especially when things aren’t going well. I ask because my losing streak is up to 4 weeks. And if that’s not enough I’m up to 2 straight losing months. Honestly, it was one of those weeks where everything I did ended up being wrong. Up to this point I’ve been very transparent about the mistakes I’ve made. Specifically, how those mistakes have me behind where I’d like to be. But for this week, all I can do is shake my head. I even had to laugh it off at times, to keep from crying. (Not really)
But I digress, so let’s recap the week:
- Monday – The market traded sideways for the first couple of hours before settling into a down day. During the first part of the day I bought NFLX, WMT and AMAT. Then the market turned and I’m out $150, just like that. So we all know what happened with TMUS so I tried to catch some of that slide. Thankfully I did and it was my only win of the day, but it was small. Then I shorted VZ and FB and they both made a comeback after my trade, so I lost there too.
- Tuesday – The market was down most of the day before turning around the last 2 hours of the session. Since the market started down I shorted 2 of my favorites: GE and DWDP. Both started off ahead before they came back up, so I took a small loss there. Then I shorted XOM, CVX and KO. All for about a $100 loss. You see where I’m going with this.
- Wednesday – The market was trading sideways for most of the day before inching up. Where I thought I saw some opportunity was shorting UNH and TRV, but that cost me another $100. At this point I wanted to go full Office Space on my computer, but then I thought I would regret because I need it to trade on Thursday.
- Thursday – The market was down before turning around. So the good thing is that I had a couple of small wins before it turned so it was actually my first up day for the week. I shorted GILD and GS for a few small gains. Then had a few more that were around even with LLY, CELG and C.
- Friday – Thankfully, the market settled into a nice up day after the jobs report, so it ended up being my best day of the week and made the final loss number more tolerable. My biggest win of the day was ALLY along with a few small wins with TRV, T and STX.
So there you have it. It was rough. There is no other way to describe it. Bottom line is another $250 loss last week. And don’t forget I made up ground on Friday so it was worse earlier in the week. So what do I do to break this streak? I already know. I’m going to shoot my way out of it. When I see a few hit, it will get the momentum going and I’ll start inching my way back. At the end of the day I trust my strategy and I’m going to keep after it. So tonight I close with a question. What do you do to get your mind right when NOTHING is going right?