Hello everyone.
1 would like to discuss a topic that has recently come to the fore in my conversations with various traders over the last so many years...that of having and committing to a system, a process and a set of habits.
This is pretty much something that all traders, will have to make a conscious decision to do at some point in this journey called trading, that is, if he/she wants to stand any chance of success.
i would like to look at it from the angle of viewing trading as a performance sport, say, a boxing match. I like boxing.
Now, let us imagine a scenario where one side wakes up on the day of the fight, puts on his gloves and gets in the ring ready to fight having nothing but his self belief that he will knock his opponent out at some point during the fight.
He has not done any pre-match preparation. He finds it too tedious and boring.
He has no team around him, they cost too much money.
He knows nothing about his opponent, is he a south paw?, is he strong?, what is his reach?, what type of boxer is he?, does he have a glass jaw? Nothing - he finds all that information really useless
All he knows and believes is that he is good at boxing and on a good day can beat anyone.
Now compare this boxer to his opponent.
His opponent has kept a small dossier on our first trader.
He knows our first trader is keen for a pay day and is not really keen on staying for 12 rounds in a match - so he will be patient
He knows our first trader is aggressive and so can be easily agitated and provoked - so he will irritate him
He knows our first trader does not have a team with him - so he will isolate him.
This trader knows his own track record - he knows he tends to knock most people out within 6 rounds
He knows to protect his face because he has a glass jaw but his body is strong. So he knows his own strengths
Now, I ask, if you were a betting man or woman, who would you put your money on?
I hope you get my drift.
best wishes
1 would like to discuss a topic that has recently come to the fore in my conversations with various traders over the last so many years...that of having and committing to a system, a process and a set of habits.
This is pretty much something that all traders, will have to make a conscious decision to do at some point in this journey called trading, that is, if he/she wants to stand any chance of success.
i would like to look at it from the angle of viewing trading as a performance sport, say, a boxing match. I like boxing.
Now, let us imagine a scenario where one side wakes up on the day of the fight, puts on his gloves and gets in the ring ready to fight having nothing but his self belief that he will knock his opponent out at some point during the fight.
He has not done any pre-match preparation. He finds it too tedious and boring.
He has no team around him, they cost too much money.
He knows nothing about his opponent, is he a south paw?, is he strong?, what is his reach?, what type of boxer is he?, does he have a glass jaw? Nothing - he finds all that information really useless
All he knows and believes is that he is good at boxing and on a good day can beat anyone.
Now compare this boxer to his opponent.
His opponent has kept a small dossier on our first trader.
He knows our first trader is keen for a pay day and is not really keen on staying for 12 rounds in a match - so he will be patient
He knows our first trader is aggressive and so can be easily agitated and provoked - so he will irritate him
He knows our first trader does not have a team with him - so he will isolate him.
This trader knows his own track record - he knows he tends to knock most people out within 6 rounds
He knows to protect his face because he has a glass jaw but his body is strong. So he knows his own strengths
Now, I ask, if you were a betting man or woman, who would you put your money on?
I hope you get my drift.
best wishes
Be careful what you think because your thoughts run your life..Solomon
2