It's About How You Think


A DIFFERENT ANGLE - There is so much reward in being patient with trading. It is one of the hardest things to do when you're so excited about something, which is perhaps why it's so hard to do. How many things are there in life that we do because we are super excited about doing them, only to need to not do them in order to succeed at them? Trading is definitely one of those things...at least the way I trade. But I think this is an important insight, as it could be a helpful thing to internalize. Perhaps, if you are fully aware of this, the excitement should be about the not trading instead of the trading. When the excitement is about the trading, your mind tells you that unless you are doing that thing, you won't be able to enjoy it. And so, what if you train yourself to be super excitement about the not trading part of trading, understanding that it is this very discipline that offers the biggest reward. If you do that, you will be excited most of the time and whenever it is that you actually find a trade to take, you will know you are taking it for all the right reasons.

cartoon jan 11

DON'T RUSH IT - I was thinking about the above today because I had been sitting back on this USDJPY short for many days, with the market not really going anywhere at all. We had seen a lot of up and down, and yet, nothing was ever compromised as far as my outlook went, which meant, I wasn't stressed in any way and was comfortable just sitting back and waiting for the trade to try and work out. This takes us into another important lesson I've learned in my trading. Quite often, our expectations for when something should happen are not realistic. The pattern is one in which someone will take a trade and although nothing has changed to alter their view, the person loses patience and exits the position. Now I want to be very clear here....I'm not saying to just hold for no reason and without a plan. I'm saying that when you have a plan and an expectation and things are moving the way you want, don't feel like it needs to be moving faster. Just sit back and have confidence that it will play out the way you thought. There is plenty reward in this as well.

Two simple, subtle tips that have really helped my trading.


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