There comes a time in everyone’s life when, no matter the task, you have to sacrifice something to get something in return. Trading isn’t any different.
Trading makes demands upon us all and as most [if not all] of you have found out, it ain’t the “easy” money it’s made out to be. As one old-timer told me when I hit the trading floor for the first time many moons ago, “It’s the hardest easiest money you will ever make.”
If you plan to “make it” trading, you have to know the who, what, where, and when of the game. And make no mistake, it’s a game. The same competitive factors that drove players when they were younger in sports now shows its face each and every day the market opens.
You are drawn by the “glitz” of money, but you hang around and make it a career through determination, perseverance, and sacrifice.
He Who Eats Wins
Sacrifice demands our time, mental energy, and faith.
“I stood here and watched you lose over $1 million in about 3 hours. You wouldn’t listen, you just kept buying like an idiot; couldn’t you see every institution on earth wanted a piece of you? What the *?%* is wrong with you?”
Where’s your plan man? Why did you quadruple up and then puke at the bottom?” This is real money you lost man, what were you thinkin’?”
Of all the factors that you face as a trader, the one that makes sacrifice the toughest is faith. Without the necessary faith in your algorithm, you are toast. And at crunch time, when your faith will be tested, you must find the necessary courage to stay the course. If your heart isn’t in the right place you won’t make it in the long run.
Just showing up to trade expecting magic to happen isn’t an algorithm.
Have a great day everyone!
P.S. Visit http://vegaspamm.blogspot.com for today’s action and wrap up.