Home > Lessons from the trading floor, Psychology > $Debbie: What do I do when the pressure is on?

$Debbie: What do I do when the pressure is on?

This was Debbie’s situation at the end of October.

Two  days left in the month, down by a little bit net and being net flat on month was in sight which had become my new weekly goal for ending October. Debbie’s psychology was strong and ready for the challenge.

One day left in month, down by a bigger number net and being net flat, with only one day left in the month, net flat on the month slid into the distance and was still in sight but very fuzzy. Debbie’s psychology was weakened and sprinkled with grains of defeat. Ended day with big headache.

The last day of the month, entered day with an “I will make money today when opportunity presents itself’ attitude. Ended up on day by best number yet, and down by very little net and being basically  alomost flat on month. I allowed myself to consider my goal of being flat on month achieved.  Ended day with big headache.

What did I do when the pressure was on?

1. I allowed myself to be angry and pout the night before the last day of month but by the end of night I made sure to shift my attitude from a pouty, negative one to a conquering, positive one. I had a headache due to the let down and stress.

2. I came into the last day of the month viewing it as a new day, one in which I would make money, and one in which when opportunity presented itself I would capitalize on it. I told myself “you know this, you can do this, you will do this”….be alert, be focused, pay attention, and the market will present something…you just have to see it”.  I ended the day with a headache due to intense focus on what I was doing.

3. The biggest thing……I did not give up and I did not just accept that my month was going to be a negative one. And more importantly, when I got to just barely flat on the month I booked the profit and took a position on sidelines and watched. I did not say that I had to get a few more cents to wipe out the measly , small net negative number.  I looked at the market, time of day, charts in front of me, and determined that it was just was not worth risking anything else. Afterall it was also the last day of the month.I allowed myself to consider my goal of net flat on month achieved. This is important to my psychology and confidence.

Profitable Trading All!!

Debbie

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