Any time you are trading on a roll, it is easy to start watching the dollars in the account. 

For example, today, I bought into Amazon (AMZN) at $581, it is now at $594. I bought Netflix (NFLX) yesterday at $100.24 and now it is at $104. Not to mention Mead Johnson Nutrition Company (MJN) that is currently trading at $83.94 vs. my buy-in price yesterday of $82.05. Then I have that pesky TLT that I bought at $129.52 last Thursday and is now trading at $130.86. 

To say the least, I am having a good day. The urge is to look at how that translates into $$$$ – but I choose to resist that urge.

Instead, I focus on the charts, on the trades, how I am managing the risk, where I am keeping my stop-loss, the candles.

BUT NOT THE DOLLAR VALUE and NOT THE PROFITS. 

Those take care of themselves. You can look at them or the lack thereof all you want, and it won’t do anything to help you, and instead, will do more to hurt you. 

As humans, we are filled with emotions. You see a loss, it hurts, you see a profit, it feels good – really good. In the process of experiencing those emotions, you begin to personalize the trades that you are in. 

Instead of following the chart and letting the chart do the work, you find yourself saying: 

“I need AMZN to do this….”

“I need NFLX to get up to at least…”

“If GPRO will get back to break even I will sell it…” (lets face it, if you own GPRO, chances are, you’ll never see break even).

Emotions are in us, you can’t eliminate them like all the popular trading books tell you. Instead you have to manage them, and that means not doing things that will cause them to rear their ugly heads. 

Watching the dollars and profits do exactly that!

To put it mildly, if you are watching your dollars, you are ignoring your charts, and if you are ignoring your charts…well…you are ignoring  your trades…

And lets face it, when you are ignoring your trades, your chances of success are way better at a Las Vegas craps table than they are in the financial markets. 

If you’re interested in trading in the SharePlanner Trading Block, then try it out with a Free 7-Day Trial that you can cancel at any time. With your membership, you’ll have access to the best chatroom of active traders, my real-time swing-trade setups that I post in the chatroom as well as via email and text (international too). So it is time that you give it a try and begin learning what it means to succeed in the stock market.

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