The Power Of Forgiveness ... Mark 11:25
- Anthony Speciale
- Oct 23, 2024
- 5 min read
Updated: Oct 31, 2024
Greetings,
The Power Of Forgiveness
Mark 11:25 says: “And when you stand praying, if you hold anything against anyone, forgive them, so that your Father in heaven may forgive you your sins.”
Forgiveness is at the heart of our faith. As we approach God in prayer, we are reminded of the importance of releasing any bitterness or resentment we may hold.
When we forgive, we not only free others, but we also open ourselves to receive God's abundant grace and mercy.
Let us walk in forgiveness, knowing it brings freedom and peace to our hearts and strengthens our relationship with Christ.
Be Relentless In Pursuit Of The Will
Which God Has Set Upon Your Heart,
Anthony Speciale
My goal is to motivate, educate, inspire and make a positive impact on your trading. Whether you're brand new to trading, or you've invested years into the craft -
I invite you to experience the Speciale Analysis Family of Traders difference!
Taking Back To Back Losing Trades After A Strong Prior Trading Session
Welcome, traders! Today’s trading session had its ups and downs, and while it wasn’t the smoothest ride, there are plenty of takeaways. I believe reflecting on both wins and losses helps retail traders, like you, improve their decision-making and overall strategy.
In this recap, we’ll break down the trades of the day, the market movements, and, most importantly, the lessons learned.
A Slow Start: Missed Patience
The day started with an early identification of the 6:25 AM low as significant, expecting potential liquidity grabs around this level.
This resulted in two back-to-back losses. I wasn’t as patient as I should have been, and it became clear early on that my approach was slightly off.
When the market isn’t behaving the way you anticipate, stepping back and reassessing the situation is crucial. Today, I didn’t do that in time, and it cost me.
The Role of Patience and Market Timing
The morning session saw some volatility, especially around the 9:00 AM open. As traders, we must respect that the first hour of trading often brings some whipsaw action. It’s easy to get caught in the noise, but more seasoned traders know that waiting for the inventory report can be beneficial.
In my case, I was focused on that 71.19 level but didn’t take any trades there. After the inventory report, which showed a surprising build of 5.5 million barrels (much higher than the expected 0.9 million barrels), we saw a sell-off.
I capitalized on this move by shorting just above $71 and covering my position around 70.60. This trade took longer to develop than I would’ve liked—about 30 minutes—but it paid off. The lesson here is: give trades breathing room when you know the fundamentals are on your side. That patience helped recover some earlier losses.
Recognizing When to Walk Away
After the two initial losses, I knew I needed to step back and let the inventory report play out. This patience is something every trader should cultivate. Chasing the market or "revenge trading" is never a good strategy. After the report, I was able to craft a plan, target the low, and allow the market to work in my favor.
It’s important to acknowledge when you’re fighting the market. This can happen when you try to force trades or go against the broader trend. Today, I found myself doing just that. After the inventory report, I was targeting a bearish move, and the market eventually moved in that direction, allowing me to recoup my earlier losses.
The Psychology of Losses and Gains
Today wasn’t my best day—mainly because I was too aggressive. I’ve been trading for over 14 years, and even now, it’s easy to fall into the trap of pushing too hard after a couple of successful days. Coming off of some solid trades on Monday and Tuesday, I let that confidence turn into aggression.
One thing I always tell traders is: You must be willing to lose money to be a net profitable trader. This is a game of probabilities, and there will be days when things don’t go your way. The key is not letting one or two bad trades spiral into a bad day. I hit my limit today and took a third trade because I knew the inventory report could offer a strong opportunity, but typically, I stop after two losses.
The Importance of Reflection
Losing days, or subpar trading sessions, aren’t just “bad luck.” They offer invaluable opportunities to reflect on your strategy, mindset, and approach. One reason I was off today was that I had been up since 2:00 AM and felt I was trying to rush things before leaving the office early. These external factors often bleed into our trading decisions, even when we think they won’t.
Aggression vs. Conservatism: I also noticed that after a few good days, I tend to get more aggressive. When I’ve had just small wins or small losses, I stay more conservative. Recognizing these patterns can help prevent unnecessary risk-taking in the future.
Keep Learning from Every Trade
Whether you're a beginner or have been trading for years, it's essential to remain humble and learn from each session. Today’s key takeaway is simple: patience and discipline are everything. No matter how experienced you are, there will be times when your emotions get the best of you. Own it, learn from it, and move on.
Trading is not about being perfect every day—it’s about consistently making good decisions over time. Recognizing when you're off your game, as I was today, and adjusting accordingly, is key to long-term success.
I’ll be sharing the detailed breakdowns of my trades in upcoming posts, including videos that showcase both the losses and the wins. Make sure you watch and learn from these so that when you're in a similar situation, you can avoid the same mistakes.
Takeaways for Retail Traders:
Be patient: Don't rush into trades without confirming your setup.
Respect market timing: Volatility is common during key events like inventory reports.
Don’t fight the market: If it’s moving against you, step back, reassess, and wait for your next opportunity.
Psychology matters: Be aware of how emotions like overconfidence can lead to aggressive trading, which can be costly.
Own your mistakes: Losses happen. Accept them, learn, and be ready for the next trade.
Every day is a new opportunity to grow as a trader. Let’s continue to learn, adapt, and improve our strategies to succeed in the long term!
Stay informed, stay focused and stay disciplined ! ! !
Thank you for reading, and I look forward to seeing you in our next session . . .
God bless, and have a wonderful day!
If you have any questions or need further guidance, please don't hesitate . . . info@specialeanalysis.com May the markets be ever in your favor!
Happy Trading,
Speciale Analysis
About the Author:
Anthony Speciale is a seasoned market analyst with over 13 years of experience trading. Through his platform, Speciale Analysis, he offers in-depth market analysis, interpretation, and expectations designed to help all types of traders, at every skill levels reach their full potential.
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NOTE: Trading involves significant risk, and it's essential to approach it with a well-defined strategy and a disciplined mindset. This blog post is intended for educational purposes and should not be considered financial advice. Always conduct your own research and consult with a professional before making an financial decisions. For further risk related information, please refer to: www.specialeanalysis.com/disclaimer
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