Diary of a Trader 6.26 : 1, 1 & 1

Hey traders welcome back to another week of trading. After a slow stretch in the middle of June, the markets have begun to pick up and offer a lot of opportunities. If I remember correctly, I’ve had about 6 trades in the past 6 days or so which is a lot of action.

Today I have 3 trading opportunities with 1 losing, 1 winning & 1 still in progress. Hence today’s title “1,1 & 1” The cool thing is that no matter how that “in progress” trade ends, I already know that it’s been a profitable day due to the amount of profit that I collected on the winner, the minimal loss that I took on the loser & the amount of open risk that I have on the ongoing trade.

Peter Brandt says it best when he states that “I don’t consider myself a trader, rather a risk manager” meaning that the easiest way to grow your account isn’t by finding more winning trades, rather by consistently minimizing your risk. My whole goal is to buy time until my hot streaks come, then make sure to fully take advantage of them. So, if I can take my 1 for 3 days (which many would consider a negative) and keep them profitable, then I put myself in a very good position when the positive win percentage days come.

If you’d like to hear more about my views on Win Percentage & why it’s HIGHLY Overrated. Check out this episode of The Trading Coach Podcast

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Trader — Trading Coach — Host of The Trading Coach Podcast — Author for Entrepreneur & FX Trader Magazine — Proud Husband & Father — Sports Nerd & Coffee Addict