Robot Roy in the movie Blade Runner -
"The light that burns twice as bright burns half as long ... "
If you want to run fast and get there as fast as you can you are surely going to commit mistakes and then you are going to fall. Most small traders do not trade because they want to make money but because they need to make money. And that pressing need can become a monster in the human mind for there is nothing worse than the pressure of Time to perform when successful trading should be about reaching your short long price targets with hedging cover, and closing out with predefined exit strategies in case of an adverse change to the market and the following impact on your plans.
Whilst it is true that money never sleeps and in the great cities of London and New York a life can be measured in seconds where things can go right and wrong; it is also right that you cannot work all the time. As a trader one of the biggest problems we face is learning to understand that the market is about numerical milestones. But when confronted with a day's trading action it is very easy to lose all sense of purpose and direction and take rash and hasty decisions to trade with the flow. Yes, as the adage always goes; the trend is your friend. But not in a market where volatility is notorious and hyper-sensitive to news events that could trigger a monumental redirection in the face of all your best plans, intents and purposes. That is why day trading is not the best vantage medium for an outlook in the currency markets. Moreover, the moment you decide not to day trade then you start to take away the pressure of Time and see the numbers game for the numerical targets in the horizon as they appear on the short and long plays.
Nobody told the bumble bee he cannot fly. Similarly, in a world of Titans there's nothing to say you cannot make a living; only that you need to adopt a regimental methodology that allows you to step into the arena when the giants are sparring for spoils. Day trading is for professional money managers; human nature becomes the small trader's drawback. Compulsion and poor judgement arise in the heat of an arena that ticks minute by minute. Better to spectate from a safer vantage point and position yourself to ride the waves of giant opinion.
Trading requires tough mental discipline. Optimal performance requires optimal mental and physical conditioning to face the rigors of the market.
True understanding of the nature of one's self can become a revelation as stoic equanimity becomes a process of learning from the past mistakes.
Peace of mind and market sensibility can only be achieved once we rid our-selves of our fear of Time. Markets cannot be read within a cloud of emotion. targets cannot be reached if we lose our nerves and start doubling up on our trades when things go wrong. Only through repetition and constant education can market wisdom be attained so that mistakes can be lessened.
Take your time and learn to see the trees within the forest. Sharpen your senses and visions if you can stand alone, independent of pressure, time and opinion. Learn to read the charts and develop the courage to form your own analysis and judgement.
To err is human; we all make mistakes. all the Titans make mistakes. But it's how we get up from those mistakes that turns us into enduring heroes. And heroic deeds are eternal and timeless. Take your time when you envision the battlefield ahead of you. Move your resources into position, understanding the nature of your foe, the weather surroundings and the terrain in which you are to fight. Seek to maximize gains by recognizing the changes of opinion. and reach those goals with unflinching mental strength backed by adequate cover in case you have to beat a hasty retreat, for not all forays become successful and one should always have an eye on the fire exit before marching off to reach the distant predefined goal.
They stumble those that run fast.
Further recommended readings -
http://forexeducationperspective.blogspot.com/2014/12/article-markets-and-battlefields-2.html
and
http://forexeducationperspective.blogspot.com/2015/01/article-markets-and-battlefields-2b.html
and
http://forexeducationperspective.blogspot.com/2015/01/article-markets-and-battlefields-2c.html
Pieter Bergli - DeLoren Trust Holdings
Forex Education
Disclaimer - U.S. Government Required Disclaimer - Commodity Futures Trading Commission
Futures and Options trading involves risks of losses. No representation is being made that any reader and account will or is likely to achieve profits or losses similar to those that are being discussed on this blog http://forexeducationperspective.blogspot.com/. The past performance of any trading system or methodology discussed is not necessarily indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
All trades, patterns, charts, systems, etc., discussed in this blog http://forexeducationperspective.blogspot.com/ are for educative and illustrative purposes only and not to be construed as specific advisory recommendations for actual trades. Disclaimer - http://forexeducationperspective.blogspot.com/ bears no responsibility for the trading actions of its readers.
