On March 12, 2018, I walked away up +$665.78 but missed my entry multiples times on a monster trade in BXC that could’ve resulted in a huge day. There are two types of traders. Conservative traders and aggressive traders. And this has absolutely nothing to do with position size. You can be an aggressive trader only trading with $100 and you can be a conservative trader trading with $1,000,000. The difference has to do with style and strategy, not position size.
Aggressive traders attack breakouts while conservative traders accumulate or buy pullbacks. I prefer buying as close to support levels and my stop loss as possible. I try to minimize and control my risk as best I can. This strategy has pros and cons.
Conservative traders typically incur smaller losses. However, the conservative style waiting for pullbacks into support levels will cause you to miss a move sometimes. As I experienced today in BXC. You need to understand that there is not one strategy that works best for every trade setup. Each strategy has pros and cons. Do not let a missed trade cause you to stray away from your strategy and break from your discipline. Trading is a marathon, not a sprint. Focus on longevity not a handful of trades.