It can seem like trading is the coldest, most calculating activity you can imagine. It's all about the numbers, the statistics, the indicators and dollar signs. Nothing else matters, right?  I've noticed in my own trading that the way you feel and the way you approach trading really matters.  It should be all about the numbers, but your emotions get in the way and it can be a real boon or a pain in the ass.  I've been losing on many of the plays I'm in lately and I've either totally missed the best opportunities or been in them and gotten out laughably early. I took a 5 cent per share gain when I was in early on the CNET spike. I could've easily made several dollars per share and cleared a 20k profit.  Similar story with KODK, I was in it right when the news broke and sold early.  I made a few 100 scalping it on the way up when I could've cleared 15-20k. That's bad enough, but then I start looking for the next big runner.  I jumped in CPIH thinking it was the next CNET and lost 4k.  Double whammy - I missed the big profits and found the big losses.  Now I'm down and keep missing the good plays. So to try to make it up I start overtrading and trying to scalp everything to try and make it back and the spiral down continues. Some mornings when I come to the market all I can think about is how I missed everything the last couple of days.  It's toxic and it will kill your trading.

Remember - every day you have money in your account is a fresh start. Forget about the plays that you missed since they are irrelevant.  Forget about 'making it all back' or 'making up for the play you missed' and definitely forget about 'getting revenge'.  All that does is cloud your judgement.  There are ALWAYS new plays going up or down big or getting ready to.  Your mission is to find them and you are going to miss out if all you are doing is scalping trying to make a couple hundred bucks all day because you have to make money since you had a big loss this morning. You have to find a way to break out of that downward spiral of emotional trading.  Losses suck, but you have to let it go. If you are trading a stock to make up for the one that you missed or just to try to make some money on a down day you need to realize that you are sabotaging yourself.  Step away. Clear your head.  Get back to looking for the patterns.  If they aren't there that day then start looking for setups for tomorrow. If you aren't finding setups in this market then you don't know your patterns so go study.  

 

It's all numbers and stats, but make sure your emotions aren't driving you into bad habits.  You don't have to be happy go lucky and smile through it all, but you have to have a clear head and be focused on the patterns. It matters more than you may think.