The Warlock – Kenny Glick – here.
You can’t win ’em all, Blanche.
As VWAPians, we take our losses. We get stopped out.
That’s part of the game when you trade using minimal risk with defined stops.
It doesn’t mean that we just give up on the trade right then and there.
That’s why every day I talk about stocks that I potentially want to revisit.
Those stocks end up on my Rolling Warlock’s Watchlist.
But what happens when we have a trade that completely shatters our attitude?
What happens when we have a trade that takes us out of our rhythm as traders?
This happened to me yesterday.
And the thing is…
It wasn’t even a losing trade.
It just wasn’t as big of a winner as it could have been.
These kinds of trades are just as dangerous to our trading psyche as losers.
Whether it’s a losing trade or a winner that could have gone better, I call this going on tilt.
Like a pinball machine.
And yesterday, I was on tilt.
New to VWAP?
Start your journey down the path of trading salvation with a headfirst dive into the VWAP bible.
Yesterday i had a trade that turned me from the lovable Warlock I usually am into this:
I guess most people would say that I’m usually fairly unhinged, but today was different.
I was angry. And bitter. And I didn’t feel like trading at all.
And it was because of a winning trade.
On Coinbase (COIN).
I owned this stock at $55. And sold it at $70.
That’s a great trade, right? Of course! Great trade Warlock! Good job.
Then I watched it RIP to $116 per share today without me.
And it set me off.
This is why I hate the bull market. Because you sell something and the stock rips THIRTY FREAKIN’ POINTS WITHOUT YOU.
After that, there was no calming me down. Even finding and trading my usual kind of setups just wasn’t doing it for me.
I was too bitter about missing out on COIN.
So after that I was on tilt.
No matter your trading experience, this can happen.
And it’s a dangerous time to trade.
Because being on tilt can cause you either to over trade to try to make up for losses (or missed gains), can cause a sort of “analysis paralysis” that might keep you out of trades, or result in a lack of discipline.
All of these have the potential to harm your profit and loss. So getting out of being on tilt is crucial.
Unfortunately, there’s no single solution to help.
We’re all different people. What works for me might not work for you or the next person.
For some folks, it might be best to walk away from the computer completely. For others it might be to just watch the markets. For me? It was 8-Baller.
My broadcaster Eric reached out to 8-Baller to see if he could help calm me down.
And it worked.
Just look at us both smiling!
Editor’s note: 8-Baller is smiling. Trust us.
Not everyone has 8-Baller that they can call up to come and trade with them at any time.
So you’ve got to find what can help YOU get out from being on tilt.
That’s where Coach Brian King comes in.
Coach Brian has been mentoring Warlock’s World members in conquering their trading mindset with his 3M strategy – Mindset, Multiplication, and Management.
The psychological side of trading can have a huge influence – from the newest newbie to experienced traders like myself.
That’s why Coach Brian’s daily bootcamps are so helpful to Warlock’s World members.
So if you don’t have your own personal 8-Baller to help you out when you’re on tilt, then you’ve got to gain access to Coach Brian’s coaching by joining Warlock’s World.
That way the next time you find yourself on tilt for whatever reason, you’ll have the tools to pull yourself out of it.
That’s all for now, VWAPians!
August 05 2022