Binary Options and Futures Trading Room were better than anticipated — although what a month so far! Anything that could have gone wrong has. Learning new software, trying to type as fast the signals in as fast as possible so everyone could get the same prices, plus dealing with the pressures that come with running a room, or losing a trade in front of God and everybody. Yep, this month has been a trip.
Not to mention my mother broker her leg in four different places (the Thursday before the room started), then I hired someone to take care of her while I trade. That didn’t work out to well as the lady left her alone for two and a half hours and when I went to check on her, she was sobbing like a small child. As Murphy’s Law would have it, whatever could go wrong did. I promptly fired the individual at 4 am Eastern Time and was in the room by six, listening out for mom on the baby monitoring. As if running a trading room was not hard enough, now I had to run the room while listening and caring for mom. The smart thing would have been to take the week off, while I found someone else to care for her, but I felt compelled to be in the room, after all, clients depended on me. So instead of taking my own advice (“Am I okay to trade?”), I opted to continue in the room.
But Murphy’s Law was not finished with me. I failed miserably — if I thought the market would go up, down it went. If I thought it was going down, it went up. Hell, at one point, I actually considered taking the opposite side of the trade but then I just got confused over which direction I originally thought it would go in. And right in the middle of the Fed Announcement, the main water line to my house broke.
By the time I left for Denver on Friday morning, I was sick and depressed. I just knew the plane was going to tumble from the skies or explode into a thousand pieces. And the spreadsheet that had all the trades with losses, well let’s just say I would rather face a firing squad than look at it. But Denver turned out to be a really great conference — I got to meet a lot of new people, including ones from NinjaTrader and go to a Rockies game.
By Monday morning, still stinging from the losses the previous week and not wanting to face the “Spreadsheet”, I lost more. By Tuesday evening, I had enough. Having it loom over me was worse than doing it — so I opened it. I calculated all the trades. Yes, I was down but it wasn’t that big – nothing that I could not overcome. As some of you may know, my biggest loss ever was $13K in a day. I had made $8,000 before 10 am that morning but instead of stopping I opted to continue. Lost the $8,000 I made and another $5,000 to boot. This didn’t even compare but I had put myself thru the same mental anguish.
Of course, we had a lot of losses — at my highest point I was 65% losing and 35% winning, yet was only down about $15. I knew what I needed to do — go back to my plan and stop anguishing over losses or how many damn trades I take. I am selective and I read volume — that is what I do. I have a plan and I am great at executing my trade setups with my indicators. So I resumed my way of trading — instead of trading in chaos, worrying over everything else, I resumed my way — a clear and concise path to trading.
Binary Options and Futures Trading Room Results so far
My loss percentage is going down (57% now) and my winning percentage is increasing (43%). And the Profit/Loss for the month is $269.33.
Now some of you may not be impressed but most traders would blow an account with a 65% losing rate — I didn’t. I struggled through it and faced it because I knew the numbers work in my favor because I’ve lived it.
Most traders would still be in the red with only a 43% winning ratio — I’m not because I use risk to reward.
Most traders would have given up blaming everything around them. I didn’t. I faced my own failures and corrected them.
And because I did these things, I took responsibility for my mistakes and corrected them, I came out on top with profits in the binary options and futures trading room.
For those that unsubscribed, well they lost the chance to learn how a professional trader can make the same mistakes they do in their own trading, how a professional resolves the mistakes, to continue on a path to becoming a profitable trader. Of course they also lost the ability to recoup their losses and make profits.