The Great Adapterlet’s ask the question differently—how manylosingdays have you
had out of about the 200 trading days that we’ve had so far this
year?
A: Since I started trading I average around 80 percent winning
days. I’ve probably had around 50 down days in 2006.
Q: How do you handle that? Are there months where, let’s say,
you have eight bad days? That means almost half your trading
month is negative. Which means it’s probably going to be a pretty
flat month, how do you mentally handle that kind of situation?
A: I think, the first thing I do is I check around me, check with
my trading partners, not specifically dollar-wise, but to get a feel
about how their month is going. I definitely have China as a good
gauge; I’ve got 80-plus people doing what I’m doing. How are they
doing? Are their numbers going way down this month? If I’m in
check with them, no alarms go off. But if everybody else is doing
well around me and I’m just sitting idle or going the other way,
then I know it’s something with me.
Q: Do you set a hard money target for yourself every day?
A: Yes, I change it from month to month depending on what the
market is doing. But yeah, I’ll typically go in and say, at minimum,
I want to make 500 bucks a day. And that way, when the markets
moving decently and things are going my way, I will definitely target
$1,000 to$1,200 plus a day. This way you are working towards
something every day. I am a big fan of goal-setting.
Q: Say you reach$1,200 by 10 o’clock your time. What happens
then? Do you keep on trading, do you stop?
A: No, I don’t stop, I just keep going. When you try to average
$1,000 a day and have to average in flat or a few down days, you