Our Duty To Learn
"This is what you should teach me, how to be like Odysseus — how to love my country, wife and father, and how, even after suffering shipwreck, I might keep sailing on course to those honorable ends."
— Seneca, Moral Letters
Today's meditation was certainly food for thought and when I think about it from a trading perspective, there are definitely things in common!
As traders we need to learn our strategies, so that we know them inside out and back to front. This means we have to regularly practice those strategies and become comfortable and totally familiar with them. We should know exactly what we need to do in any scenario that the market throws at us during every trade that we execute.
There are only two ways a trade can go; For us and we take our pre-arranged targeted profit, or against us and we take our pre-agreed controlled loss, to ensure that our bank is protected and we can live to fight the next battle!
As long as our regular profits far outweigh an occasional controlled loss, we will be profitable long term, which is our aim of course.
It is "our duty to learn" so perseverance to keep practising and practising to become more and more consistent is vital. Recognising the dangers of temptation as well as avoiding distractions and sticking solely to our strategies and only trading what fully meets the rules/criteria, is also vital, meaning that we must stick to the plan!
We are not out to impress anyone; we are striving to become the best that we possibly can be, as we learn and grow on our trading path.
With patience, discipline and the correct trading mindset, this can be achieved for sure!