The Art of a Good Fold
When something is wrong, your body usually knows it. You feel it in your gut… You may not know what is wrong, but I am sure everyone can relate to this feeling.
When you get this feeling, how do you react?
Well, if you want to be a winning day trader, you have to trust and go with your gut.
You see, in day trader, just as in poker, to be a truly profitable player, you have to be able to make the tough but good folds. That is what separates the elite from the average.
This morning, in the MOJO Day Trading Room, ProTrader Mike and the MOJO Team made a few successful trades of $UWTI… Everything was going great and an overwhelming amount of the team had hit their daily goal, but some members of the team wanted to go back for more and do another buy of $UWTI.
But, ProTrader Mike felt something in his gut. His spidey senses were tingling and he knew that this would be the wrong move. The signals were not there in Level 2 and the market said no. As a leader should, ProTrader Mike let the team know that they would have to make a tough fold. Once you hit your daily goals ther eis no need to continue business...only traders do that. Are you a business, man or a trader? A Trader never folds and rarely wins.
Well, looking back that was indisputably the correct decision. As we have come to expect, ProTrader Mike made the correct call and saved the MOJO Team from some serious losses! The day was saved…
That’s what sets the MOJO Team apart from other trading rooms. ProTrader Mike and the MOJO ProTraders have the patience and self-control to make the tough folds. MOJO never chases profits or loses. Everything is steady and controlled. MOJO does not trade with emotion, which makes deciding to fold all the easier.
Look, the idea is simple. If you want to be the best in your industry, whether it is sales, poker, business, or day trading, you are going to have to make tough folds. You can’t blame every hand, you can’t buy every stock and you can’t make every deal. Sometimes you gut says no and you must listen.
In closing, ask yourself, when you are trading stocks are you able to make the tough fold, or do you chase profits and losses only to wind up busting your account? If you want to learn how to fold like a MOJO ProTrader, tomorrow and Friday are your opportunity. MOJO Day Trading is hosting a Join-A-Party for Christmas 2015 and you are invited.
Claim your Free Pass here: http://www.mojodaytrading.com/#!free-pass/cd74