MAP IT OUT - We're inching closer to the New Year and it's a very good thing. This is the time of year where we sit back and reflect on what we've done well and not so well over the past 12 months so that we can look ahead and better ourselves in every aspect of our life going forward. As far as the trading goes, take some time now to sit down and map out a plan for 2017. Think about what you want to achieve, see it, and make it happen. The things that prevent us from achieving our goals are generally a lot less complicated than we make them out to be. Our biggest enemy and obstacle is always ourselves.
CONTROL - But if you commit to being disciplined and sticking to a plan, whatever that plan might be, you will be better off. I strongly believe it's better to miss a really good trade because it didn't set up for you based on your rules, than to make money on a trade you gambled with. Perhaps gambling will pay off once or twice but over the long run, gambling is a losing proposition. I also believe there are many different strategies that can be applied to trading markets and it really doesn't make a difference which strategy you apply. What's more important is that you adhere to the rules of your strategy and stick to them religiously. This way, even if things aren't going great, at least you will know you are trading with discipline that 99% of aspiring traders don't possess....and that's a big deal!