Kardec TraderFutures Trader. Creator of The Midas Touch. Mentor

Paying our dues to the market as a trader 🔥

23 Oct 2023 · 1 min

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0:45

A short spoken segment from a YouTube video by Kardec Trader (Oct 23, 2023) explaining the difference between a 'good bad trade' and a 'bad bad trade'. A 'good bad trade' is when a trader followed a solid game plan and the market nevertheless moved against them — an acceptable loss and part of 'paying dues' to the market. A 'bad bad trade' arises when the trader lacked or ignored a plan and placed poor trades; these require careful review to learn why and to improve. The speaker emphasizes having a game plan, treating losses as learning opportunities, and focusing on consistent improvement to reach profitability.

Chapters

Was it a good bad trade or was it a real bad, bad trade? And people don't understand that concept. Right? A good bad trade is the market moved accordingly to your game plan. You had a good game plan, you had a good read on the market. But sometimes the market won't go your way even if you get everything down, no matter what. That's a good, bad day. That's you paying your dues to the market. That's you taking the loss. But then when you have a bad, bad day, meaning you have a day where you didn't follow your game plan, you didn't have a game plan, your game plan was probably bad, nothing really made sense for you, and you just put on bad trades. You need to go to that and say, why? Why? Okay. And you, you become better from it and from there. If you have that approach, it makes trading a lot more enjoyable and it makes it better journey for you to actually get to a point of profitability because you're focused on the areas you need to consistently improve on.