Trading – the Art of Managing your Imperfection within an Environment of Uncertainty!
I seriously love this game. And the challenge it presents to us each and every day.
Probes, tests, retests and all manner of chop in an ambiguous environment of constantly shifting pace, volatility and direction.
And we enter this arena with a mind and ego, desperate for certainty and validation.
We are NOT built for this.
And so the game must become one of not expecting perfection, but instead managing our decisions and actions to achieve the best possible outcome over the longer term.
A key part of this is knowing when to walk away.
Here are some facts:
- Not every day needs to be a home run.
- In fact, most days won’t be.
- And so, on days when the challenge is tougher than expected, the wisest decision could be to stop for the day.
- Resume the fight again tomorrow, when conditions might be more favourable.
You don’t need to keep fighting till your session stop is hit.
You’re out of sync with the game.
It might be the market. It might be you.
At some point though, it doesn’t matter which.
Take whatever profit you might have. Or even a small loss (easily overcome by wins on any other day).
And choose to resume the fight at another time, on another day, when you might be better reading the market and more easily able to exploit your edge.
If you don’t like the game that is playing this day, YOU DON’T HAVE TO PLAY.
Take your hand off the mouse. Step back from the charts.
And survive to trade another day.
Happy Trading,
Lance Beggs