Winston Churchill once said:
Success is the ability to go from one failure to another with no loss of enthusiasm.
Very important, because in my trading journey, had I lost trading enthusiasm I would have never discovered order flow trading. Had I not kept my enthusiasm up, I would of never figured out the true order flow generators in the market. Now I am not saying that I was enthusiastic every minute of every day, or even every day. I was not. But I always held out hope for the better trading day, for the better trading system. I had trading persistence.
A lot of traders take a loss, or series of losses and then lose enthusiasm. Some losses can make their stomach turn. Others may wonder how they will explain their losses to their spouse.
Many traders lose enthusiasm. They lose confidence. They lose conviction in their trading system. They get plugged out of the opportunity flow. All this money flowing around every day in all these financial instruments, but they remove themselves from the opportunity flow because they don’t have trading persistence. They don’t have a base level of trading enthusiasm.
Because many times, when the trader chooses to give up or neglect to follow their trading system because of a recent loss or series of losses, well that is the exact time where their trading system would give them the win that they were expecting. It doesn’t always happen as not everyone has a good trading system.
For example, I had many situations in my early order flow trading days where I would take a loss and then get so sick about it I would unplug myself from the market for days. Days turn into a week or two. Eventually, I got back into the market only to discover that If I had traded I would of caught a nice chunk of a 500 pip move sparked by a news release. For some people a loss can make them feel bad. For others a missed opportunity can make them feel even worse. And yet for others, a missed opportunity because of a trading loss affecting your trading enthusiasm is the worst of all.
For example, you expect the market to break out and try to place a trade, but the market stops you out. You blame the choppy markets and remove yourself from the opportunity flow. Sometimes that is only one or two days away from the choppy volatility getting ready to turn into explosive volatility and the market breaking out. Only problem is that you did not have the same trading enthusiasm as you took a loss and removed yourself from the global opportunity flow.
If you constantly suffer discouragement from the markets, and have a bleak outlook on life and the markets, it will make it more difficult to catch the opportunities.
How did I solve that problem you may ask?
Well, the first time you place a nice order flow trade and win 100+ pips, and actually understand why you made money, and what combination of market participants caused your trade to turn into profit, well that is a very beautiful day. It is a strong start in the order flow journey.
Trading enthusiasm, a certain level of it, needs to be maintained in order for you to have the energy to hunt for the order flow opportunities. So you can take a loss, understand why you took the loss, tweak if necessary, and then go find the next 200 pip move. I am not saying you need to be jumping for joy every trading day. I am saying that you need trading persistence and a certain level of enthusiasm so you can find the opportunities and have the courage and conviction to trade them.