Dwelling On A Missed Trading Move

One of the problems I used to have is that I dwelled on a missed trading move.  I would see the currency pair move hundred of pips and I would miss out on it.  Then I would bang my head against the wall.  I would kick myself for missing out on the move.  Sometimes that would result in being plugged out of the opportunity flow for many days or weeks.

The only thing worse than dwelling on a missed trading move is that while you are dwelling and kicking yourself, another huge move occurs and you miss that one as well.

The truth is that even if you miss a 50 pip move, 100 pip move, 500 pip move, 1000 pip move, they will all happen again!  There will always be another day to play the game.  Any move that you missed, even if you missed a “flash crash” they are all going to happen again in the future.  Some are just rarer than others.

The question is not whether the big moves will happen again.  They will.  The better question is can you create a system to capture the type of market movements that you want to catch.  And if you already have such a trading system the better question then becomes whether you will follow your trading system, and be in a proper mindset and mental state to take advantage of the opportunities.

There are some traders out there that have great systems for making a lot of money.  They just hit a rough patch, and that rough patch causes them to have doubts about whether their trading system still has an edge.  Those losses or missed trading moves causes them to get plugged out of the opportunity flow.  Then when their trading system fires off the next signal, they hesitate to take it, or believe it is a false signal, or were just not following the markets because they were so devasted and emotionally wrecked from previous losses or missed trading signals.

The people who are most worried and dwell on the missed trading moves usually can suffer from a few different problems:

1.  They believe the big market moves will not happen again.

2.  They believe that the particular inefficiency that they are taking advantage of will cease to exist.  So they are hurrying and rushing to catch every trade they can.

3.  They believe that the forex market will disappear and they won’t be able to trade currencies again.  If you hang around the forums long enough, there are all sorts of these conspiracy theories.

4.  They don’t have a system for finding or capturing the good trades, thus giving them anxiety every time they miss a trade.

The best traders, the wealthiest traders do not have any of these problems.  They can miss a huge market move and not care.

Why can they miss trades and miss big market moves and not care?  Because they know they will happen again.  And they have fully convinced themselves that they have the skills to capture the next big market move.

They know they do not have to capture all of the big moves.  They just need to capture a few of them.

The best traders also know that there are certain inefficiencies that will never disappear.  They will never disappear because some of them have been trading and profiting from such inefficiencies for years or even decades.  They have developed a system for capturing an unchangeable market behavior.

They also know the markets are not going anywhere.  Who cares if a few currencies change here and there.

Back in the days there used to be all sorts of different European currencies.  French Franc, German Deutsche Mark, Spanish peseta, Italian Lira, etc.  They were all replaced with the Euro.

Some people think there are less opportunities now than before.  They are just flat out wrong.

The Euro has posted multiple 1,000 pip movements over the years.  There were a few this year.  There were many last year.

A 1,000 pip move just happened in the Euro.  I am pretty sure another 1,000 pip move will happen before the end of the year.

No need to dwell on a missed trading move.  Do the work, attain the habits, and have the discipline to catch the next big move.

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