Day Trader 101: The Nightmare Scenario

I don’t care how good of a day trader you are. I don’t care if you’re a beginner day trader who is just getting started, or if you’ve been trading for 20 years. You can be the most disciplined trader and have all the confidence in in the world; however, when a nightmare scenario shows up, it’s going to be a pain! To be fair, I don’t want to be overly dramatic. When I say “pain”, I don’t mean “blow up your account and be forced to live under a bridge”. In this case, the “pain” is in regards to maximizing your annoyance levels which presents a whole new potential can of worms. I can only speak for myself, but as a day trader (and human being), when I get extremely annoyed with my trading results, I tend to be tempted to behave in ways that are counterproductive to my, actual, day trading strategy. These types of behaviors of course lead to maximum pain and even greater loses of our capital. The one fact we all need to remember as day traders is this: nightmare scenarios happen and they’re unavoidable. There’s no need to panic when they do. There’s no need to second guess yourself or your trading strategy. Keep your confidence and keep the perspective that these scenarios do not happen on a routine basis. Let me show you a nightmare scenario and how it’s so difficult to maneuver for the trader who is disciplined and focused on honoring their rules. Let’s go!

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