Becoming a Consistently Profitable Trader
It’s never easy to give back profits. However, as Mark Douglas always said, it’s important to think of each trade as one trade in a sequence of trades.
Today, we gave back more than $750 in profits on the 30-Year Bonds, thanks to Post-FOMC shenanigans.
It’s easy to get frustrated, even if you are giving back only profits. But, the key is to stick to your trading plan, follow the rules and stay disciplined.
We traded Crude Oil in the same exact manner as the Bonds. However, with Crude Oil, we had a 100% winning rate, which helped us to close out the day on a winning note.
We had a total of 6 trade setups today, for a net P/L of +$800.
Despite batting only a 50% average on the Bonds, we were still able to take out more than $800 in profits from the markets.
That’s the power of using robust models that have been thoroughly backtested, and personalized for each specific market.