Rewarding yourself for your trading successes is important.
Day trading is a hard profession, with many mental ups and downs.
When we do well we need to cherish the moments. Day trading is over 90% about mental strength, and rewarding ourselves when we win is important.
Today was a good day. I missed the morning session, but was able to jump into the market for the final hour of this high volume day. The market was on edge because of the Italian elections, and this uncertainty brought in a big sell off.
Contrary to popular belief, big sell offs are very beneficial to day traders. The strong moves, and general strong market direction make our decisions easier, which we can profit from.
Today, with a huge sell off, I was able to be pretty confident in putting on large short positions.
These shorts, held for the final hour of market hours, garnered me large rewards.
It always feels nice to have a big win, especially after a tough month such as the one I had been going through.
It’s amazing how quickly a month can turn around when trading, and I always welcome these big days with open arms.
For many years I had a standing rule in place where I would bring my girlfriend at the time out for a fancy dinner for every big day or big month I had.
I loved celebrating my successes with her, and it gave us both something to look forward to during the good times.
Trading isn’t always good times, smiles, high fives, and fancy dinners. This means it’s all the more important when things are going well to celebrate the successes.
So what did I do today after closing out all my positions?
I went out and bought the finest bottle of Argentine Malbec that the shop would suggest to me.
How much was this fine bottle of Argentine fermented grapes?
Back home that bottle would be about $60. Either way, it’s a nice treat after a big day. It’s only a small fraction of what I made today, but it’s a nice way to celebrate.
Remember that rewarding yourself for your trading successes is important, and you’ll have a better mental space while day trading, which will in turn allow you to make more money.