I'm in Hate with the Market

This market is frustrating and I willfully gave money to the Worldwide Starving Traders Fund this morning.  Not much, just enough to piss-me-right-the-heck-off.  I decided to write a list of what traders need to keep in mind during frustrating markets.

1)  Emotional Control - Ultimately, we have the power to determine our thoughts.  A good friend of mine says, "It doesn't require anymore power to think positive thoughts, rather than negative thoughts.......so choose positive".

2) Focus - Reorient your thinking process and focus on your strategy and setups.  I cannot let the market woo me into a "marginal" position.  Take a walk.  Stepping away from the screens and getting some fresh air is usually enough to break the pattern.

3) Discipline - Now that you have found your mojo again, stick to the plan.  Do not take a flyer because of a hunch or a low risk trade that doesn't quite meet your standards.  Hit singles.  This is the Rod Carew baseball card that sits on my desk.  Helps me remember to hit singles.  Rod Carew hit singles and didn't swing at too many bad pitches.  Oh yeah, Mr. Carew was inducted into the Hall of Fame in 1991.

4) Distractions - Eliminate anything that is taking your focus off the task at hand, making and preserving money.  TV, music, phone, wife, kids, dog, screaming trader sitting next to me.  Whatever it is, do your best too remove it.

I had lunch with a great friend and trusted advisor.  The meal was good, convo was better but we prayed before we ate and that is what cleansed my spirit.  I am now back at the turret and ready to finish the afternoon.

Be Blessed,

Hemi