Wednesday, November 18, 2009

ALL IT TAKES IS ONE

This week my trading has lacked the rhythm and fluidity that I often look to establish during the day. For one reason or another my decision making has been disconnected with my execution and outcomes. Over the course of a trading career, this is inevitably going to happen from time to time. The key to dealing with this situation is how one responds going forward.

After "battling" this week, I decided to take a step back at my desk mid day. This provided me with an opportunity to refocus and rebalance, while reviewing my trading. Throughout this time I continued to stay alert and ready for any opportunity in the market that would present itself.

Fortunately, one such scenario came late in the day with CL news (potential takeover target). I was able to recognize that this was a play worth getting involved in. More importantly, this trade allowed me to get back on track, to focus on a setup that is good for me, and bring me back in tune with the market.

At TradingRM we like to say "all it takes is one good trade." One good trade can get a trader back on track, recharged, and ready for the next stretch of trading. This is what I will be doing going into the final two days of this options cycle.



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