Good lesson

 We received both good and bad things from God.  So give thanks to GOD always.  God sends sunshine and rain, all things from GOD are gifts.  

Yesterday, I trade NQ in Globex session, locked in +49 handles with $100+ gain, and got Day done in by lunch time, feeling pretty happy.  Only to have terrible shock when US market opened, I found I left two limited order behind and it was filled against me with negative $350 +.  Very panic!!!  I scalped most of trades in RTH, and recouped back $200, but still end up with nett $100 loss. 

It is good lesson for me.  It was not first time I left order behind, last time was surprised gain of over $100+, but this time was double negatives.  There are few lessons to be learned from this mistakes.

1.  When facing loss, let it go and cut the loss asap.

Yesterday market was 100% U turn, at the beginning of discovering this mistake, I did have moment of thinking  to hold the position till the price returns, but later decided to let it go.  Market can do anything, Rather to hold the position and hope the loss to be recovered, it is better to put it back and start with next trade.

2. Have a business plan and Professional process

Trading is business, not hobby to me.  If I treat trading as business, I ought to have professional business manner and process that I will do in any other business.  This mistake can be prevented should I have set up mapping process.  Like SOP .

From now onwards, I will develop business plan and mapping process for order entry/ exit.

3. Develop strong mindset

To win and to loss is part of trading business.  To make mistake and to  learn is part of growth.  I do think it is required to develop strong mindset to begin with.

Mindset, is pivot to this business in the long term.  

I have decided to trade in real account with micro.  With SIM, though the strategy can be tested out, it does not help to develop mindset.  I have found I have good performance on SIM, but with real account,  I am still experiencing anxiety when enter and exit trade,  lack of confidence to enter, or to hold positions.  With real account, through trail and error, with risk management and small trade size, all small details will be helpful to form stronger mindset.