Look, to be consistently profitable in this game, we have to know a lot about the art of trading. But the rub is, the more we read, listen or watch, the further we are from that goal—what a dilemma. So finally, I had to get to the point where I was confident to put it all together. It takes a long time, though. No matter how well-meaning what I’m taking on board or how acknowledged the developer or author is, stuff will detrimentally plague my trading results. I can think of loads that did so for me. It still does if I don’t concentrate.
I include courses in this too. Education that costs thousands for what amounts to a couple of days. Of course, it’s not intended to throw us out for years to come. What is being explained works for one, the developer, not necessarily for the many? Okay, so why not stick to effective picture knowledge-based instruction and leave strategy to our creation. Great in theory, but it isn’t easy to separate the two. We seem to be solely attracted to the process.
An article on trade management—the primary contributor to our success rate— and a report on strategy will see only the latter digested unless the mentorship is consistent and always available as in a quality prop firm. As a home trader, it’s nearly darn gone impossible (as my online golf instructor says). Is there an answer?
The only one is to trade small until the account damaging picked up habits are eradicated. My ideas are self-generated, and my management is not complicated but so precise that I have no room for consideration or doubt. I have the flexibility to change with the market, and I’m consistently profitable. Then I’m ready to add size. I pleasingly did that this week—having been so long away from the screens.
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WELL DONE BUZZ