I had an hour long skype with TraderDi this morning. It was really good to be able to talk through the week with her to get her views.
This week was a very tough one for me as I registered a loss of 8R over 22 trades and this coinciding with it being the first week of trading the “K5” strategy live. It seems this wasn’t a good week for trading a trend-following strategy on the 1-hour timeframe.
TraderDi had some great practical tips on how to handle such weeks, and to use the information that the market is effectively telling/giving me, and also offered to catch up with me for a quick chat at the end of each trading session for the coming week.
In her Traders Pendulum book, Jody Samuels argues that having a trading coach/mentor in place is vital on the road to trading success. Dead on the money!
TraderDi continued to compliment me on excellent money/risk management, detailed trade documentation and very disciplined trading. Nice to hear that I seem to be doing something right!
Do you have a trading coach in place?