Today is one of those market days when the price goes basically one way. For some, these days can be their best money makers - they know how to push the pedal to the metal when the time is right. For others, they tend to be their worst days - the think they have missed it, they fade the move (it will revert right?) and then give up and go with it - at the exact wrong moment.

So for many traders, it is a day of frustration. For some, it is a day that induces them to prove how smart they are by 1) finding the turn 2) finding the turn again. This usually ends up with their largest loss of the month.

Want to be the pedal to the metal trader? First you have to curtail the need to be right, to be contrary or give in to feeling you missed the move. How do you do that?

Ask yourself – what am I feeling? If I am really honest with myself, what do I WANT? Don’t tell yourself not to want it and don’t try to deny it. Let yourself feel and express whatever you feel. THEN look at that and ask yourself if you want to act on that feeling, if it will make money to act on that feeling. Once you have that answer, make a decision about what to do in the market.

Then repeat the sequence –

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