hey guys Jared Wesley here of live Traders and it is that time of the week it is lecture time and this week's topic is it is what it is deal with it trading is a roller coaster ride guys plain and simple and I don't care who you're watching who you're listening to who you're talking to whatever none of us are perfect except for my wife that aside none of us are perfect okay that means you're going to lose sometimes no one bats 100% % no one 0% of the population bats 100% in this business okay so knowing that we have to sort out how to deal with the roller coaster ride okay sometimes a stock tags You by a penny sometimes it holds by a penny sometimes it misses Target by a penny sometimes it reaches Target by a penny it happens all the time okay so today we're going to talk about not only the emotional aspects of it but the OB objectivity side of it okay you have to be truthful with yourself you have to be objective with yourself otherwise the Market's going to eat you up spit you out and just chew you all around and you're going to think this business is out to get you and I guarantee you there's people listening that's going oh I'm a victim of the market the market makers are out to get me hfts are out to get me blah blah blah it's stop it the victim mentality gets you nowhere in life and it definitely gets you nowhere in trading okay the market isn't out to get you guys there's reversion to the mean regression to the mean there's a roller coaster ride in this business so we're going to talk about that roll roller coaster ride today how to deal with it some of the things that have happened to me through the years and things that you've probably experienced as well if you like these videos please click that like button smash Hammer that subscribe button I'm Jared Wesley of live Traders let's get to [Music] it this week's lecture topic is it is what it is deal with it um growing up I don't know why and I'm sure some of you have had the same experience but my mom used to love the phrase it is what it is she used to say it all the time the Japanese will say oh shog I right it is what it is um and it's not always what you want to hear when you hear it because at that moment in time probably something that you don't want to happen is happening and you just simply say it is what it is okay um so it's a very common phrase many of you have heard it like I said my mom used to use it all the time today we're going to relate it to trading um in terms of what is trading and how does it impact you in terms of things happening to you the psychology of trading the money management the trade management uh it's kind of a broad topic today um and uh part of the slides in here I I used a couple coup years ago but I would say half are new today and half are are older um but it's a topic that I think we need to have a discussion about um because you see some people and they're quote letting the market get to them and you can't do that I saw it today um with yaroslav literal words F this I'm out of here right pretty much I I mean I might be off by a word but that's exactly what he said and when you think about it you want to ask yourself well what would elicit that type of response right what would elicit that type of response well I didn't see anything that would seem to elicit that response from what I read and meaning I think you said Yos slav that you haven't taken a trade in 3 days and you missed the Google or whatever the stock was today so basically you haven't taken a trade in three or four days well that's not so bad I've lost money the last 3 or 4 days I'd rather be you right now do you see what I'm saying so okay you missed a trade maybe you should have gotten ah happens it is what it is but you haven't taken a trade in three days and you're all pissed off about it I I'll give you my p&l for the last four days and I will bet you a million dollars you'll take no trades over the p&l I have for the last three or four days right so you have to stay grounded guys you have to be able to be mindful mindful you guys remember that from last week's psychology lesson you have to be able to just take a step back look at the big picture and realize that if this is something that you're wanting to do or going to do as a job or a career um long term this is going to happen you're going to have roller coasters if you ever look at a perfect Trend guys perfect power Trends do what they go up pull back go up pull back they go up they pull back 50% they go up they pull back 50% they go up they pull back that's a p perfect power Trend right out of the book so how do you deal with those 50% pullbacks then you just take it on the chin that's just part of the move up it's just the way it is but before I get into that thought I'd change gears for a second and usually I do when will the insanity stop well I got a nice email from somebody um I don't know this is like a week or two ago something like that um and it says basically hello from Texas again Jared um hope all is well but I haven't spoke to you in a year or so I just want to say thanks for everything you do for the trading Community you are without a doubt one of the best trading coaches on the internet period I have only been trading for 5 years now and I have an amazing track record the last three years and I actually just landed a job with a hedge fund as a Trader without any any degree or GED or anything only because of my track record I wanted to let you know that if it wasn't for you I'm not sure it would even I would even be close to where I am today that's a pretty big deal I don't know all the specific details but this person did not say to be clear prop firm they said hedge fund now yes for all the negative Nellies out there there are a lot of different hedge funds it could be a 10 million fund it could be a$1 billion fund for all I know but to be able to get a job just on your track record alone with no college degree is pretty damn impressive that or the hedge fund is extremely desperate which they probably aren't so this is amazing five years in and for three of those five years so basically this person got it at the two-year mark because three of the five years they've been doing quite well all right I think this is amazing I think it's wonderful why do I say this to you it's not to brag for me it's to say it is possible this person did it why can't you do it you may not do it in 5 years you may not do it in 10 years but it's possible to do it this person has proof that it is possible to do it um so I just think it's wonderful um that somebody out there is uh is kicking ass and taking names you know using uh live Trader strategies I think it's wonderful now let's move along um you have seen these two next slides before but they need to to be reiterated okay they need to because it's going to have a huge impact on what I'm going to talk about afterwards all right know thyself having a trading plan that is conducive to your personality style is crucial do not ignore this most Traders chase money without ever giving thought to personal strength I want you yes it's underlined yes it's italicized yes it's in pink okay most Traders chase money without ever giving thought to personal strengths and weaknesses they're like oh it makes more money I'll just do that I'll take that and then you can't do it you can't follow it so what was supposed to make you more money ended up making you less money because you couldn't follow it right it couldn't follow it so you'd rather in that scenario have a management that made less money but one you could follow because by following the one that made less money you're doing two things one you're proving discipline and two you're a calmer Trader you're a Trader that's much more calm and relaxed which is what you want you can build on that you can't build off of chaos right that's difficult to do but you can build off of a relaxed patient Trader that goes from one R All or Nothing to one and a half to two to three but if you start at three R and you can't follow it you're going to have a heck of a time you may even cost yourself money uh I think as it says here it's one of the biggest reasons that Traders fail right the lack of a trading plan that fit fits them and that's the key part there that fits them and you guys have heard me say this for a long time it's nothing new but it's going to go into what we talk about today okay because knowing yourself knowing your strengths and your weaknesses is a massive part of dealing with those pullbacks you're going to have them even Ali the great all right has had a pullback recently now today he might be up 20 R for all I know but my point is trying something a little different doing it the right way but he's even had a pullback after starting the year with an incredible run everyone has pullbacks from time to time it's just impossible to be perfect okay now track all your trades yes I know you're tired of hearing me say it but you just how many people still aren't doing it probably a lot make sure to have a column that includes actual results versus trading plan results you want to know exactly how you're doing verse your plan against your plan all the time try not to adjust your plan too often small adjustments are okay one bad month of trading does not equal a bad trading plan I want you to read that one bad month of trading does not equal a bad trading plan again assuming you're following it it just means it's a bad month that's all it means there's nothing more to it it simply means that for that month and your plan the market just wasn't conducive to making money that's it no more no less could it become more Poss possibly but you can't know that in one month it's too short of a period of time okay trading plans only work when they're followed consistently Ali What's the phrase that you say I it's not coming to me right now it's like um Can something is the destruction of systems I can't remember it's just not coming to me today you'll say it soon um but they only work when you follow them right when you follow them variance is a system killer something like that yeah something to that effect right okay and he's right you can't call it a system if you keep varying what you do or your approach every single day it's just not going to work okay we are odds Traders so let the odds play out in your favor guys this is nothing new you've heard me say it it's been in lectures in the past I'm just reminding you before we get into other stuff okay one bad month does not equal a bad trading plan you know what I'm saying you've all been there you've had a couple bad weeks and you send me an email and you're like Jared's I need to change my planner I need to do this I need to do all that stuff and then one last slide that you've seen and then we're going to get into newer stuff trading is about the search for truth guys objective personal truth so rid yourself of subjective bias and find objective truth the only way you're going to do this is by being honest with yourself or having somebody else review or watch you trade because you might think you're something that you're actually not we all do it right oh I didn't think that was mean and then 10 people go yeah you sounded like an when you said that that was really mean and you're like well it didn't feel mean to me when I said it and that's just being honest like you're not trying to lie to people like it's just I didn't think that was a rude comment and then 20 people say yeah it was so now you know it was so in trading it's the same thing the result shows you who and what you are just cuz you think you're different the results will show you what you really are what's really working what's not working the results will also show you who you are hey I'm a two All or Nothing Trader but I sell at 1.2 r on every trade well you're not a two R All or Nothing Trader you're a 1.2 R Trader that's it that's the objective truth and if you don't track that you won't know that and if you don't videotape yourself you won't know it either so simple stuff but many people just aren't doing it all right or at least consistently doing it all right so now let's take a look at a few things this is what I wish I had today and yesterday and the day before all right can't wait to trade with the Aeros slav take away the last three days of trading anyway this is what trading looks like when everything goes smoothly you get a gap down Wide Bar narrow bar narrow bar four bar play entries 17288 or 173 I think I got filled late I used a little bit of a wider stop loss but it was up here this arrows in the wrong spot it's not the point this is what trading looks like when it works the way you want it to work the way you expect it to work the way you hope it will work and the way it does work sometimes okay right everybody wants to come in and take a trade like this and walk away with seven Grand and go sweet I'll see you tomorrow right this what we we hope for every single day every day but it's not how it always works right it's great when we do this and you know what I'm talking about when you get a stretch where you won five seven 10 12 trades in a row and you think your doesn't stink because you just happen to get a boatload of these great trades it's great but reversion to the mean is real but this also happens you guys remember this from a a couple weeks ago now I did end up making 3,600 bucks on this but this was a trade we're not going to critique the actual entry at this point by the way for those of you curious so you don't ask me later Jerry or somebody else uh this was based off of a pre-market breakout at 424 pre-market breakout at 424 okay anyway this thing triggers and ripped like just ripped okay my target was $ 4279 it went to$ 42789 that's it go take a look at it you can see my p&l up here in the top corner I don't know if you guys can see that or not it's kind of small I apologize but I closed $2500 and I had 3660 open it's actually a little more than that you can see 3839 that's at 42718 just went to$ 42789 this thing went another 70 cents higher B basically got I missed my target by $75 a $7,500 Target was missed by $75 okay think about what I just said all right 1,250 shares time 6 cents let's do the math together 1,50 shares time 006 is $75 so at one point in time I was up $7,495 on this thing with a $7,500 Target basically 99% a Target okay and what happened came all the way back all the way back swiftly too about 10 minutes just boom boom boom boom boom boom boom boom boom boom boom right all the way back and I cheated a little CU I only should have made 2500 bucks I should have only made 25 I made 36 my point I'm making is 6 pennies cost cost me $44,000 6 C cost me $4,000 okay hold on this another trade right you get in right here nice entry pops you hit first Target first Target the second half comes all the way back down and stops you out and then after stopping you out Nvidia went literally not exaggeratedly exaggeratedly that's a good word Jared that's a new one can we put that in the dictionary exaggeratedly write that one down anyway okay Nvidia then went $20 higher I think it even clipped 900 right so from $875 to over 900 and you just sit there and you're like are you kidding me that this stock one for the All or Nothing Traders tagged you by like 1520 cents and then just ripped and you just sit there and you're like really right really what about this do you guys remember this one entry was 111 stop loss was here okay tagged on the first trade right there just right there stopped out this is why we use wider slops slops wider stops jov right then we get back in on the 84% play okay and it went higher to Target but one penny right the bottom of of bar number two was 11034 that's the bottom of bar number two I gave this 14 cents of extra room but it went 15 cents and stopped me out yes I got back in and I made one R versus losing one r but if it held by one penny I would have made two r instead of one R costing $1,500 one penny guys one penny cost, 1500 bucks three pennies cost $3,000 okay filled at 220.03 with a target of 2163 DG went to 2166 then trailed out at break even missed a $4 Target by 3 cents now before the Geniuses come out and start telling me how trading Works you're like well why don't you just take it a nickel early well one Nvidia Microsoft meta DG these happen to be spread stocks and take making it 5 cents early isn't as easy as you think it is for a couple reasons one I'm not staring at it right you're scanning for other trades you're looking at other things and you're not staring at it so it may flash down to 21606 very quickly and pop back to 21630 and then what you're going to take it 30 cents early now 40 cents where do you draw the line where do you draw the line 1% 2% 10% and then how quickly does it happened this stock went down and basically bounced immediately didn't even really give you much time and then all of a sudden what are you going to take an 80% of your target now you don't know that it's not going to Pivot and come all the way back down and end the day at 210 you don't know that so while you genius is out there thinking I just would have taken it a 2 21610 or 21615 no you wouldn't have cuz if you're that type of person you probably would have taken it at$ 219 for $3 less the point though is is that between the previous trade and this Trade four pennies cost $4,500 4 C okay hold on we're not done still getting there one penny cost $1,500 yep gave the trade 3 cents extra room it triggered Me In by 4 cents okay then stopped out by one penny before dropping the target you can see the loss up there minus 1500 that was the risk at the time right okay got back in on the 84% play okay got back in but that was a very expensive penny so now what are we up to 5 cents 1 cent 3 cents one cent $6,000 right $6,000 over five pennies okay hold on and then sometimes you just can't win right this one is a d due to the recent experience from the previous week of getting tagged by 1 to three cents on several trades I chose to use a much wider stop on sigga the proper three bar play stop loss was 1173 right here right 1173 okay or 23 I decided to use $12 or50 all right at first glance this appears to be smart as the stock drops 29 cents or 1.26 r down to 1121 then goes back up to 1176 which would have been break even right it would have literally hit one R and then got out at break even okay and if it was all or nothing you would have stopped by 3 cents right if it were all or nothing you would have stopped by 3 cents and then it would have hit your two our Target now hear me follow me for a second if you used a 23 Cent stoploss it would have hit first Target stopped out your back and then literally hit full Target because you needed 46 cents for this and it went like 48 cents okay then the stock comes back down to 1103 all right which thankfully for me was Break Even due to an advantageous fill at 1153 on Entry this allowed me to move my stop the point is this management is everything both stop losses small or large trailed out at break even but if you used All or Nothing on the first trade with the 84% play you would have made one R if you used All or Nothing on the second trade you would have lost one R but by the end of the day you would have gotten your one R back on the 84% play as it closed at 1092 right now you sit here and you look at this you're like sometimes you're just can't win for losing no matter what you do your management is just befuddled by the market and sometimes all managements are whether you did all or nothing or whether you moved your stop or hybrid approach or pivots sometimes it just doesn't matter sometimes one management works extremely well and another management doesn't see where I'm going with this you can't be right all the time is where I'm getting if you didn't notice the point I was making you can't be right all the time your management will not be quote the right management every time one day you'll see all the All or Nothing Traders making tons of money and you're like gosh I trailed out at break even or something and then the next day you'll be the one making all the money because you got at least one R and the all Oro Traders got a full stop out okay and just in case you're curious no it doesn't just happen to me sorry I left your name in there Adam and Brandon but nobody knows who you guys are but now they can Google you just messing okay so I also needed a nickel on Apple for 2 R plus the penny on Amazon for 2 R dang six pennies 4 R I got in nem at 4061 by 4036 and it missed my target by 2 cents yesterday Tesla missed my target by 4 cents like WTF 2 cents 4 cents and I think we all know at Tesla you don't have a 20 cent stop loss this is going to be a $1 $2 stop loss so missing Target by 4 cents is not much that's not much at all so 6 cents cost this person 4 R 6 cents cost Brandon 4 r two different people two totally different stocks apple and Amazon n and Tesla and I just showed you four examples so there's only one conclusion that we can come to it's the only conclusion that we can come to there are no there are no other factors or variables in here there's no other conclusion and this is the conclusion that we can only make from from this it's the only conclusion you can come to trading sucks and the market has it out for me that's it that's it trading sucks and the market has it out for me the only reasonable conclusion that we can come to I mean it just happened to me 6 pennies cost $6,000 Brandon had six pennies cost 4 R and Adam had six pennies cost 4 R also so this is clearly and obviously tongue and cheek the only conclusion that we can make about trading the alos are fishing for my shares the market has it out for me trading just sucks that's it so why do you wake up and do it every day then right yaroslav and everyone else that gets frustrated it's okay to have a momentary lapse of reason and get frustrated for a minute I wasn't happy when Microsoft stopped me out today I'm over it I'm over it as they say it is what it is as they say this too shall pass this too shall pass and this is where objectivity is waning in most people they throw out you know what are they what's that saying they throw out the baby with the bath water that kind of thing you're just throwing out your objectivity because of one or two or three bad experiences yeah sure how things happen matters but it shouldn't we talk about it all the time okay but here's the curveball here's the curveball because I couldn't make this statement without making the victims look like fools oh what happened here what I thought the market had it out for me meta came 8 cents from stopping me out and then it ripped to Target you can see my p&l it's down $4,513 in fact it went all the way down to like $ 48510 it literally came a couple pennies like now was actually 8 cents all right I was down like $ 4700 on this thing 47 look Wide Bar narrow bar it peek-a-boo right here see it right there little topping tail peek-a-boo pulled back and ripped for the rest of the day ripped and then meta look looks like this meta was 4,750 minus minus $4,750 182 turned into over $6,000 gain it's nearly an $1,000 difference this is at$ 489 this thing went to $493 so take those 1,700 shares and add $4 to it yeah this thing got it done got it done but it was 8 cents from stopping me out but but but but but I stopped out by a penny on the trade before but I thought the market makers hated me well then what's your excuse for this one one stops out by a nickel one holds by a nickel you're right it's an anomaly Jared it's the only time it's ever happened in the history of trading except when happened again ba you can see my order at 18551 it went down to$ 18555 came four five cents from stop me out minus $4,530 turn into plus 7,000 right there that's the bottoming tail where my cursor is right there and then move pull back moved and just kept on going guys be objective with your trading sure will there be times when pennies cost you literally thousands maybe tens of thousands of dollars yes there will be where there be will there be times when pennies save you thousands and thousands of dollars yes there will be and in the big picture I don't know exactly what the statistics are but in the big picture I like to believe that they cancel each other out that the luck I enjoy from holding okay is offset by the unluckiness when they don't hold and the unluckiness is offset by the luckiness and therefore it just ends up being flat it just ends up being it is what it is I'm not the market I don't have any say in the direction of the market I can only control my actions I cannot control ba after I get in it I can't control the market after I get in it but I can tell you that sometimes I'm the pigeon and sometimes I'm the statue okay and it feels like literally literally when you're the statue feels really good when you're the pigeon though doesn't it nobody's complaining about about this everyone's forgetting about the nickel that ba held the nickel they're forgetting about it but you know what they're not forgetting they're remembering the penny that Apple tagged them by the three cents that meta tagged them by they're holding that for weeks they're telling all their friends oh my gosh dude I took this freaking trade it's like a $4 Target all right it misses my target by like three cents comes all the way back down stops me out by freaking Penny and then sure as the thing goes and hits Target the are you kidding me do I need to Sage my house who did I piss off do I have to go to church confession what do I need to do but yet a day before that trade on meta their ba held the stop by a nickel and they're not telling anybody about this trade nope this one's long forgotten you only remember the negative that happens to you why it's all part of trading it's all part of the same game and sometimes you're on the right side of that game and everything just works and sometimes you're on the wrong side of that game and things don't work you just have to understand that it generally speaking weighs itself out I've had four out of the last five days were down but I had 12 consecutive up days before that it's reversion to the mean do the math do the math that's 19 no 17 trading days not quite a full month and if you do the math that's about an average month an average month is usually 20 trading days with four or five down days one a week that's kind of normal right you have 15 to 16 up days to four to five down days well 17 and four is right on Pace to be 20 and 4 20 and five isn't it it's reversion to the mean but guess what the down dayss happened in a cluster four out of five they happened in a cluster so when they happened in a cluster you're like oh my gosh the market hates me what's going on this and that and all this other stuff but when I was up 12 days in a row stocks were holding like ba by a nickel I wasn't saying anything you know when mea was holding up here you know by 8 cents I wasn't saying anything this was part of my 12-day upst streak just I'm where I'm supposed to be it's the way it goes it's the way it goes also to yav because I can't tell you guys this enough and to everyone else guys give your trades room see this buy setup on Amazon okay nice buy setup too it pulled back a little more than we'd like a little bit more but bottoming tail kind of dogey bar right just around support again pulled back a little more the entry is right here the stop loss is is technically under the bottoming tail technically right this thing pops up triggers you in and then nearly stops you out while this did work it got very close to stopping out give them room give them some wiggle jiggle room you put this a penny under here and it takes you by a nickel and you're pissed give it a little more room if it takes it and comes back add to it right add to it so that's another point I wanted to make today and I want to end on a positive note today last week's lecture was super long this one's a little shorter hi my name is Slim Shady right I am a student of live Traders Jared Wesley is a mentor and an inspiration should have saved this one for next week after years of failing at finding my strategy and gaining my Edge it's safe to say I finally understand the unconscious confidence Jared speaks of this is my p&l from the past month of March and some of April I put it all together in February and have been on my longest streak to date shout out Jared you're an amazing person I'm going to miss those emails but I didn't just put this up for you that is this person's P 5 10 15 20 25 29 30 31 32 33 34 two down days and 34 trading days this person has two down days in 34 trading days he should stop trading on Wednesday No actually Wednesdays net net are actually good net net right um but uh anyway $2,358 in 7 weeks well done I'm just giving this person props i' publicly tell you their name but I didn't ask them for permission so I just deleted their name $2,358 in 7 weeks and note it's a little bit of everything here there's $178 winner $77 winner there's an $1800 winner there's a $1300 loser there's almost a $2,000 winner you can see that that in the last couple weeks they've done a lot better so might this person have reversion to the mean maybe but when you're up 32 out of 34 days that's pretty damn good $20,000 feels pretty damn good doesn't it you know the red days were a little bit ugly and yeah the red days were eating up like three or four of of the green days early on not lately but early on yeah I mean seriously it it took you know half their gains away I think here and then again half their gains and then since then it's just been nothing but money you know yeah a lot of cushion even if you pull back to 12 or $15,000 which would possibly have a lot you know um so that's awesome and I got this email a couple days ago when was this April 10th yeah a week ago a week ago you know so two people people in the last week or so getting it done kicking ass and taking names why do I do this and I said it earlier it's not to stroke me it's to show you guys it's possible that there are other people out there doing it because I know how it feels when you're new when you're new you tend to think that no one else is making money there's two thought processes everyone else is making money except for you and the other one is no one's making money so this business sucks those are the two thought process man I'm the only one not making money everyone around me seems to be doing well what's wrong with me and then the flip side of that is man this business sucks nobody makes money I'm showing you guys this so you can see that yes there are people out there that are studying their asses off working hard and making money hedge fund we have a person who works at a hedge fund now we have a person from mentorship six years ago mentorship something like that they own their own hedge fund now this person $2,358 awesome I guys I didn't solicit this in fact this person actually sent sent this email to info at live Trad didn't even send it to me directly they sent it to info at live Traders the first one was sent to me directly you know awesome it's great to hear and then we'll end it on this what does bad trading look like what does good trading look like and you need to ask yourself which one are you are you randomly changing your trade management because of one day one week or one month do you not have a pre-trade checklist are you risking too much too soon I got another email I was going to put it in maybe I'll save it for next week but basically I'll give you the gist of the email this person took $50,000 and turned it into $170,000 during covid I think it was 2021 and then they took their 170,000 went back to break even so 50 to 170 170 back to 50 and then 50 down to 25 and now mother asking me for advice what should I do and the reason I'm bringing that person up is because why did it take so long to reach out for advice think about what I'm saying really and truly this person clearly got lucky when they went from 50 to 170 reversion of the mean took them back to break even and then they lost another 25 Grand and I think they added more money and lost a little more too think about it for a second why why does it take people so long to reach out for help ego well I agree with you it's when the pain gets so bad but if going from 50 to 170 170 to 50 isn't enough of a roller coaster ride to say hey whoa you know I need help so this person clearly was risking too much too soon not taking stop losses they're basically just not trading well you know so if you're continuing doing the same wrong things over and over again that's poor trading that's bad trading good trading is a specific and detailed plan pre-trade checklist that you follow proper money management consistent trade management take stop losses without question and you correct your mistakes using statistics and consequences it's so simple but so few do it so yet despite all of this sometimes the market is just better than you are and this is where objectivity comes into play sometimes the market just get you oh well you can cook the same dish a hundred times and every once in a while you burn it I cooked edamame yesterday and I overcooked them it's the easiest thing in the world to cook I went upstairs to my computer to finish something and I was like oh 15 minutes passed by like 15 seconds I went down and I was sure as and that's something is the easiest thing in the world to cook you can't mess that up but you can if you're not paying attention and trading is the same way you can mess up something so simple like share size or the volume of a stock if you're not paying attention we all do it the difference is professionals rarely ever do it novices do it frequently that's the difference none of us are perfect so ask yourself do I look like a bad Trader do I look like a good Trader do I apply and impart these things in my trading or do I kind of just do whatever I feel like doing do I look to the left and don't give a because I see comments in the room all the time oh I'm going to take this trade it's like well there's double pivot top to the left yeah well whatever right so I hope that you guys today learned a little bit about what trading really is and that is a roller coaster it really is a roller coaster even when you're a s a successful Trader you will have times where you are better than you should be and worse than you should be and you usually in both scenarios revert back to what you normally are trading is not hey I bat 50% and go winner loser winner loser winner loser winner loser doesn't work like that it's a roller coaster ride you might have nine winners in a row and then all of a sudden you you lose six in a row you may have winner loser winner loser so the key here though is to stay grounded and stay objective with your trading because if you don't the market is going to eat you up if you keep changing your trading plan every bad week every bad month the Market's going to eat you up if you get pissed over a one penny stop out Market's going to eat you up remember when they hold by a few pennies because that happens too stay consistent stay objective stay truthful with yourself or to yourself and I think things will go well for you in trading I wanted today's lecture to be a lesson in staying grounded in looking at the bigger picture you're going to lose some battles as long as you win the yearly War you're going to lose some battles along the way it happens stay grounded I'm not saying don't review your trades if you're having a tough stretch sure absolutely review them do everything you can to sort out what's going on but know that no matter what you do you will still have losses from time to time so I hope you guys learned a little bit I'm Jared Wesley of live Traders we'll get back at it again next week
