Hot Streak

[torero]

I agree, sometimes we all need reminders why we spend all this time, energy, and brain power. All work and no reward will make your motivation and drive stale. It also reminds us that make money is the objective, not being right.

[cooter]

Exactly. For all the exhortations here and elsewhere, the only place it counts to be right is when you're on the positive side of the P/L ledger after a day's work in the markets.

[NihabaAshi]

	Quote:	wsam29
	What are some things you guys do when on a hot streak?...

I prefer to sit down and determine the reasons why I don't have a win streak.

Hopefully, its because I'm not following my trading plan and that helps enforce that I need to get back to following the trading plan via the view to start making money instead of via the view I want to start a win streak.

Also, I get a little more worried when I start looking at it (thinking about it beyond a few seconds) as a win streak when it occurs because that implies to me its a game instead of treating it like a business (a good day at the office).

It's this reason why I try to look at my end of day, end of week, end of month or end of year summary results instead of looking at it per individual trade when I'm following the trading plan.

Yet, when I'm not following the trading plan, that's when I began looking at individual trades especially at my commentary involving the psychological aspects of the trade that's in my journal for each and every trade I've taken.

I guess I'm saying is that when we approach our trading each trading day as if its a business...when we have a hot streak its no big deal but only to those that view it as some game (high five, cheering, patting themeselves on the back et cetera).

In fact, its usually another trader that's reviewing my trading results that tells me I'm on a hot streak.

I then let the comment go into one ear and out the other ear so I can get back to treating my trading like a business.

Mark
(a.k.a. NihabaAshi) Japanese Candlestick term

[i]"Volatility analysis is a doorway to consistent profits."[/b]