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Trading Is Not A Monthly Paying J.O.B.Published by Mark Crisp on 2010-02-18 05:20:22
The big problem now in the trading markets is there are thousands of vendors telling would be traders they can make $X thousands a day/week/month trading the markets. But it doesn’t work that way. Not at all. As a trend follower in stocks I can have a 10% losing year. Next year I might have a flat year then I hit a huge 110% return. That’s how it is for trend traders. They are not myopic in their trading business. They look beyond the following day/week/month and year and realise these short term fluctuations will always be present and have no significant effect on their long term business plans.
If you look at the track record of many trend followers it is usually what I call the good the bad and the ugly. One good year. One flat year and one losing year. Forget trying to make money every single month, year. Remove that pressure. It’s not worth it and it’s not achievable.
Once you remove this kind of expectation from your trading it opens up a whole new stressfree world in your trading. Each days fluctuations in price and your account should not matter. You switch your computer on. Download the previous day prices. You move your stop if you need to according to your system rules. That’s it. No guessing. No emotion and no hoping. Prices will move, either a lot or a little and it’s simply your job to apply the system rules to those price fluctuations.
Prices are going to do whatever they are going to do with or without you watching them during the day. You can hope and pray all you want but it will have ZERO effect on those price movements then you must conclude that by wasting your time watching those prices during the day is juts that, a complete waste of time and energy. It feeds the fire of stress and anxiety. You have to learn to perform your trend trading duties in less than 5 minutes a day when the markets are closed.
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