Here’s a quote I often come back to in times of trouble.
Imagine this: You initiate a trade and you’re pretty confident about it.
The market initially goes in your desired direction. You begin to salivate as you’re thinking about the potential profits.
Moments later, some news upset the market. All hell breaks loose, and now you’re down for the day.
I love this time of year. It’s a great time to reflect on the current year — how you grew, what you learned — and then think about what you might create next year.
Writing these weekly blog posts gives me great satisfaction. Often, they allow me to express my thinking, such as it is.
Sometimes I get my juices flowing by things I read, watch, or hear; other times it is things that I experience in my life – as is the case today.
This is an extremely short and straight to the point guide to becoming an emotionally stable trader.
I won’t bore you with the same old platitudes – control your risk, don’t overtrade, follow your plan…
Those are all very VERY important. But you all know that, right?
Ok, great… What else is new?
Ok, I get it, you don’t have time to set aside for a meditation practice.
Ok, let’s assume it’s true.
These past few years, the market has been ramping up, with pauses few and far between.