What Would Less Look Like?
"Let us get used to dining out without the crowds, to being a slave to fewer slaves, to getting clothes only for their real purpose, and to living in more modest quarters."
— Seneca, On Tranquility of Mind
Another meditation today that really made me think.
I think the majority of us take for granted, what we have and we expect these privileges to always be there, when in reality that may not be the case.
I am always grateful for what I've got and certainly do not crave for more and the same can be said for when I trade.
I am always content to take what the market offers me in various trading scenarios from my strategies. I find that if you try and force trades to squeeze some extra unplanned profit, it can in a lot of cases become your undoing!
Greed is one of the main killers for your trading bank and there is nothing worse than slowly building a decent trading bank, only to become greedy and push too hard and end up losing a big chunk when the market bites back.
Smaller pre-targeted regular profits, soon add up and if you can stay patient and disciplined to follow your strategies to the letter with no deviation, your trading bank will steadily grow and you can pat yourself on the back from a job well done.
You may have a figure in mind that you are happy with as your trading bank and withdraw every time you go above that point. This means that you are still operating from the same monetary position, but you are also withdrawing above and beyond and some of that profit could be put aside as a rainy day fund for if you go through some hard times.
If as traders we can stick to the rules/criteria for our strategies 100% of the time and execute and then fully manage our trades to completion, we will protect our bank and reap the rewards.
This will hopefully eliminate the likelihood of what less would look like.
Certainly something to think about and consider as an option, as you progress on your trading journey.