Trade The Journey

Trade The Journey

Moment in Time!

Top of the Morning.

While brainstorming on a potential topic for this post, I thought about the unconscious actions I took to start my day. This process is also called your routine.

I thought about how important it is for an entrepreneur and trader to have an effective and efficient routine.

Everyone has a routine, whether they are aware of it is another story. Most people settle into their routine because it feels comfortable and familiar. Your routine is a statement of your discipline and purpose or lack thereof.

I scoffed at the notion of having a routine for Trading. Trading is supposed to be fun and the exact opposite of having a regular job. You can imagine my surprise when master traders spoke of their preparation and routines for Trading.

Most prepared the night before, so they were able to make better decisions during the trading day. They went to sleep at a decent time and arose with ample time to check the futures and the pre-market of the stock they planned to trade.

Trading is a business, stocks their inventory, and their ability to successfully prepare often equated to a higher income. Becoming an entrepreneur in any endeavor requires sacrifice and some pain akin to a beginning trader. Both the entrepreneur and trader are experimenting to find a process or system that works. In the midst of experimentation, there will be losses and setbacks.

I remember waking up to my alarm at 5:30 am on a Saturday morning and wondering, What the hell I am doing? Everyone is still asleep, and it’s still dark outside.

Go back to sleep, I thought.

Whether or not I got the work done today or tomorrow would make little difference. In the early stages of a start-up phase, it feels as if a phone call or an email can wait. Everything is an idea at this point.

I have to get up early to complete my planned work for the day and to enjoy the NBA playoffs.

I rarely watch the games in their entirety but I do watch the fourth quarter. When I listen to people who want to be entrepreneurs, I seldom find them wanting to accept the full spectrum of responsibilities.

Instagram had a post that highlighted the dilemma, which stated, “Most want to spend a million dollars not earn it.”

You have to love your craft/business to spend eight to twelve hours on it per day, including the weekends.

Why is all this important?

I realized that to be a professional trader. You have to be a professional, which means waking up early to ensure all of the critical work and research is complete for that day.

That means preparing for your setups and exits before entering a trade and analyzing the market’s new developments. The best part about trading is that none of the preparation you undertake guarantees your success.

A novice trader entering the market for the first time could open and close a winning position without the slightest clue of strategy or forethought. They were right at the time that it mattered.

However, over a series of trades, I will prove to the novice and myself why I am a professional trader.

I’m writing this to show that Trading is a full-contact sport based on mental agility and decisiveness. Someone on the other side of the trade is seeking to capitalize on my mistakes and lack of preparation. They have bills to pay and a family to support, so you must not take Trading lightly.

My routine has become reviewing the news first for any significant developments involving the sector or stock I am trading. Then I analyze the stocks I have a position in for any trend changes. Next, I look for new positions that are displaying setups I like to trade.

Sounds easy, but it’s not especially when you’re tired. It takes time to become a professional trader, and very few accomplish the status. Few are ready for the consistent grind and turbulence involved in Trading.
Nothing is certain, and each day breeds more uncertainty if you don’t have the proper trading psychology.

I hope you see what it takes to become an entrepreneur or a professional trader with this post. Every day you wake up and practice becoming what you want to be until you become it.

Sometimes it can be tedious, but brick by brick, a foundation is built.

This past week in Review:

I’ve been lucky and blessed to have a small nest egg to help me weather the storm. Most people are returning to work, and kids are returning to school in some states. It’s scary what’s happening to the people of the United States.

This isn’t a political blog, so I’ll keep my opinions within. As my income slowly returns, I’ll save more as I have seen the benefits of a proper money mindset.

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

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