Today, I want to share a crucial lesson from my trading journey: how to allow trades to work. As a professional day trader, I've learned that patience and discipline are key to success. In today's session, I executed trades on SPY and QQQ, each offering unique insights into the importance of letting trades breathe.
The SPY trade was a textbook example of preparation meeting opportunity. I had my levels set 30 minutes before the market opened, and when the price action aligned with my plan, I entered the trade. It was tempting to exit early, especially when the price tested resistance, but I reminded myself to let the trade develop. By doing so, I capitalized on a 100% move, reinforcing the value of sticking to my strategy.
On the other hand, the QQQ trade taught me about managing losses. Despite the potential for a significant gain, the trade didn't go as planned. Instead of panicking, I accepted the loss, knowing that another opportunity would arise. This experience underscored the importance of emotional control and the willingness to take calculated risks.
In both cases, the lesson was clear: trust your analysis, allow trades to unfold, and don't let emotions dictate your actions. By focusing on the process rather than the outcome, you can navigate the market with confidence and resilience. Remember, it's not about the money; it's about executing your plan with precision and patience.