Trading – Truth and Integrity


Date: 10/5/2021
Author: Chris Hood


Be sure to check out new episodes of my video podcast each week, where my ace pupil Brian Jones and I talk the ins and outs of options trading- and give you insights and strategy that you can immediately put to work for you in the markets.

Listen closely.

I’m about to tell you something that you’ll hardly ever hear from professional traders. Especially those who provide financial services.

Brutal honesty.

I know that many of you took a painful hit last week when the market snapped back from its all-time highs.

I certainly did.

When the market corrects, thousands of retail traders get wiped out. Hopefully, you’ve been following my advice, sized your positions appropriately, and are still in the game.

September certainly lived up to its reputation as one of the most challenging trading months of the year.

Personally, I had a terrible week.

I had my first weekly loss in 50 weeks. My goal was to make it a full trading year without booking a single losing week.

So much for that…but I did come close.

I suppose I’ll just have to do it next year, which ends in just two weeks. After that, I plan to readjust my profit holdings and shore up my cash.

A bit painful to have to withdraw from the profit account after so many weeks of deposits. But this is the nature of trading.

I want you to consider this in your own journey.

A bad week or even a losing month will happen to everyone. But do these weeks really define you as a trader?

Considering my 20-year trading career is roughly 1046 weeks, it’s nothing more than a bump in the road.

When I began trading, I used to get very upset every time I had a string of losses. This left me with two choices – give up or find out how to improve.

All too often, new retail traders are quitters. Even if they don’t lose all their capital, they wash out and assume it’s just too difficult or just a scam.

It took some time for me to realize that no matter what system I use or which indicators, there are simply many factors out of my control.

Volatility, liquidity, and market conditions are like forces of nature.

You can’t always predict them, and you certainly have no control. You’d have as much luck trying to stop a flooding river, hurricane, or volcanic eruption.

I know now that what I can control is how I react to them.

Don’t beat yourself up like I did when I was learning. Instead, focus on tightening up on what you can control.

Whether or not you place a trade. The set-ups you use. How much you risk. When you get in and when you get out.

I took a heavy hit on my GOOGL positions. My net liquidation value was hammered as many of the put spreads in my book suffered from volatility increases. The wild price swings beat my long calls down into -25% territory triggering an exit.

Did I panic?

Not a chance. I’ve made my adjustments in line with my plan, and I live to fight on.

Looking back over the past 50 weeks, I’ve overachieved on my net profit goal. However, the profit-loss ratio I’m seeking eluded me this time.

I know that if I can improve that, my results will be even better.

Some might say I’m insane to tell you this.

“Chris, why would you tell people you lost when you’re supposed to be a flawless guru?”

It’s just my nature, I suppose.

I believe in truth over lies and believe integrity trumps hyperbole. So when I send trade alerts, I’m standing shoulder to shoulder with you. My money is on the line too.

I always eat my own cooking.

Remember – trading is a cycle. To have good times, we have to go through the bad ones.

We should welcome the feedback to improve and become better traders.

Chris Hood



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