Trade The Journey

Trade The Journey

A game of Strategy ~

Top of the morning.

I hope everyone is enjoying their weekend. Most use the weekends for a time of relaxation and unwinding from life’s daily pressures. After working all week, it’s comforting to know that you are essentially free to do as you please for two days.

There’s no pesky boss, demanding job, or difficult co-workers to deal with during the weekends. That’s why I commend the Entrepreneur. It goes against our nature to add additional stress and pain to our life on our supposed days of relaxation. Not only do the weekends become workdays, but the workdays that were once eight hours now become twelve to fifteen hours workdays.

An entrepreneur is striving against the odds and the traditional mindset to start their own business and accomplish their dreams. Starting your own business can be a considerable risk and possibly ruinous financially. It’s not an easy or comfortable lifestyle to live, and in most cases, this turbulence will last for some time.

Mentally, you have to be ready and committed to seeing the plan through. The entrepreneurial journey is a lonely one. Each day you’re honing your skills in the craft and inching closer to becoming a professional. A professional is a skilled craftsman in their field after years of repetitive experience also known as practice. As Jim Dalton would say, professionals/masters understand the nuances and nuances separate the master from the beginner.


Trader Reflections

After learning the patterns and the basic concepts of technical analysis, trading becomes mental. Your decision-making, confidence, discipline, control, and imagination become the biggest factors in profitable trading.

Reading charts is subjective except for the easily visible reference points and indicators traders have on their charts. Looking beyond the charts to the supply and demand imbalance can be even more subjective.

A professional trader trades what is there.

Attempting to trade what is happening from what I think is happening has been my biggest challenge. After a couple of profitable trades, it’s easy to become biased to your forecasting skills without considering reality. With a sequence of losing trades, doubt enters the picture, and now your back to square one.

The only answer to combat this fluctuating feeling of highs and lows is often more analysis. I need to learn more so that I can anticipate more. After a while, you then realize that to predict the next move with any certainty, you’d have to know all the possible variables.

Impossible.

But I still try to learn everything I can.

While it may be impossible to predict the next move with any certainty, it is possible to predict a strategy. There are many strategies available to professionals with large amounts of capital. For example, I am learning to recognize the sell-offs at the openings to get the weaker handed traders out of their position.

Not only do I recognize the strategy, but I have also successfully applied counter-strategies. I never thought of trading as a game of strategy.

I didn’t know trading required such a high level of skill or strategy, nor did I understand the market’s psychology. I thought of trading in terms of profits; how much did I win or lose?

Trading is a game of competition, a non-contact sport. The best and the brightest are well-prepared and well-capitalized for the day and eager to acquire more.

The market is designed to transfer money from the beginner to the professional.

Now, I imagine a strategy playing out instead of a static pattern playing out. If you think of trading along these lines, it becomes a bit more complicated. Instead of playing the position or charts, you play the people.

What is someone else viewing these patterns and price information thinking and considering? If they took action, Why? Where is the price point that shows I am wrong, and they are right?

With youtube, I get to watch Master Traders analyze and execute trades. Although they may use different methods and procedures for trading, they all say and do similar things.

They bounce back from bad trades, make quick decisions on market generated information, and are excellent risk managers. Usually, they have honed a personal strategy that works for them through trial and error. These masters share their information freely, knowing that most won’t be able to apply the knowledge.

It isn’t because people are dumb or lack the mental capacity to execute the trades. It’s the intangibles like discipline, risk management, control, and monotony that most people don’t associate with trading that ends most careers.

The mental aspect of trading is the most crucial aspect of your strategy.

Often, I have found myself in positions where I had to entrust the outcome to my judgment and experience. Even more challenging is allowing my profits to run.

One of the things that draw me to trading is that it is an endless puzzle—a never-ending rubrics cube. Every time I think I have the combination, it changes.


This week in Review:

I’ve pretty much ceased all eating out and eliminated any unnecessary purchases. Proper healthcare is truly a blessing, physically and financially. I’m focused on continuing to save and invest even during these challenging times.

Your greatest adversary is often the reflection in the mirror. I will continue on the road ahead. No one knows what the future may hold, so one day at a time is my strategy. I’m only worried about accomplishing today’s objective: managing my expenses and taking an additional step in the right direction.

Doubts? That’s okay. Just make sure you do it anyway.

Fears? That’s okay. Just make sure you do it anyway.

Tired? That’s okay. Do it anyway.

Nothing happened after a day of hard work? Do it anyway.

String together a couple of days and it’s a week. Do it fifty-two times, and it’s a year.

This past week deserves the grade of a “C” for continued improvement.

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