“The moment I put on a trade, it is already beyond my control. It is useless to worry over the outcome. All I can do is to put in a protective stop, and limit the risk I take.”
The recent string of losses had left me in a dejected state, but trader Michael Martin’s words sank right into my heart and I was able to find the strength to move on.
Hit stop-loss: Seven MNGJ5 contracts sold at a price of 3.885286.
This is the last of my long positions. How fast the market has swung towards the other direction. It is one of those times when one has followed the procedure, yet the outcome is not as expected. Such is the nature of trading.
Checklist: Was it a planned trade? Yes. Did I stick by my rules? Yes. Am I back to a calm state? Yes.
The Mechanical Trader 