Last night MOJO received an email from a MOJO trader. He wrote to me out of desperation, as he had recently funded a trading account with $250,000 and went against MOJO advice (went off the reservation) that the market would crash and he paid big time. When it was all said and done, his account quickly dropped on the 1,000 point day drop and cost him $200,000, dropping his account all the way down to $50,000.
Needless to say, he was beside himself. He couldn’t believe it and was feeling completely desperate. He contacted MOJO and said that he needed a trading pick that could get him 100% of his money back and he needed the pick now! This is where MOJO needed to stop him and remind him: Trading is a marathon, not a sprint!
He was asking MOJO for a quick 100% winner to make it "ALL" back. That is a recipe for disaster as MOJO knows those situations lead themselves to get much worse. Now, rather than lose the $50,000 left he needed a plan. So, MOJO being a good caddie and mentor picked up the phone and gave him a call. Yes that's right - personal consultation and help as that what MOJO does. MOJO knew he needed advice and coaching, a new plan. You see, at MOJO Day Trading, we know that you can’t force trades. If you force trades, you will lose. If you chase losses, you will lose more. If you trade out of desperation to make a quick score, you will lose it all.
The people who win long term in day trading are the marathoners. They are in it for the long haul and are willing to grind out their 1%-5% on a daily basis, never deviating from the plan. This is how the MOJO ProTraders trade and that is why MOJO is going on 3+ years of consistent success. MOJO never chases, never over trades, and never force anything. If the trade is not there, MOJO waits and watches as the trades will present themselves. Then MOJO scores aggressively. Once MOJO makes the money, MOJO runs to the bank. If we had a losing trade, we move on.
Conversely, the sprinters are constantly looking for that one big score. They want to get rich off of one trade, or make back 100% of their losses off a big score. That is not how it works.
Trading is not about 1 day, 1 week, or 1 month. Trading is not about a single big score. If you want long term profitability, you must completely eliminate these thoughts from your head.
Trading is a marathon. You don’t show up to a marathon one day without any training. You train over days, months, and even years. You build up over time, pace yourself, and stick to the plan.
Think about this: How often does the runner who sprints to the front of the pack in this first mile finish in first place?
The answer? Very rarely, if ever. If you don’t pace yourself, you will fade out and go busto. The real marathoners, the MOJO ProTraders, will catch up to you and leave you in the dust. They will be in perfect condition, sticking to their plan, and staying on the reservation. You see, when you trade with the MOJO System based on positive expectancy, you don’t need to chase the big score. You just need to stick to the plan and collect your daily profits.
P.S. There are no scores in the trading game. There is no making a killing. There is no running fast. The sprinters always get chased down by the marathoners. The race is 26 miles long, don’t sprint ahead in the first mile and get left in the dust.