So it’s finally happened. September was my first losing month of the year. Am I annoyed? Of course not! Probability states this has to happen and no matter who you are there will be losing days, weeks and months. It’s part of trading and until you accept that, you will always be held back.
You have to remember that the market will go through different conditions throughout the year and your strategy will not suit them all but you can’t let that lead you down the path of trying to tweak and change things because ultimately that will cause you to lose for a longer period of time. I’ve experienced it first hand during the early days of my trading when I used to think i could perfect my approach and always change things as soon as i had some loses but it will never work doing this. You must always understand that losses happen and be disciplined in your strategy, executing in the same way time and time again knowing that long-term you have a winning edge and will make money.
So with a new month I am doing exactly that, continuing as normal. For me this has meant the perfect start with a nice bounce back win on the first trade of October.
Above we have the 1 hour chart which I used to execute the position. Price had recently descended in to a key level of support with the Daily chart showing clear deceleration before bouncing and showing buying signals once more.
As you can see our hourly chart represented this my making a higher high and breaking some key levels before retesting support, EMA, 50% fib and also the daily pivot point. Plenty of confluences for price to go long and the confirmation was given first thing Monday by price action.
In total I banked a nice +1.7% profit. Remember to always stick with your plan and execute according to the rules. I have a had a few people ask me where I learned from so I have attached a link below and you can attend a FREE workshop to get an insight in to the mentors I had.