Your Actual Needs Are Small
"Nothing can satisfy greed, but even a small measure satisfies nature. So it is that the poverty of an exile brings no misfortune, for no place of exile is so barren as not to produce ample support for a person."
— Seneca, On Consolation to Helvia
Another interesting read and today's meditation certainly made me think about where I was and where I am now, both in life and in trading terms.
We slowly and steadily, build what we have from getting on the ladder with a first mortgage, to getting that first car and gradually upgrading to newer models over a period of time, getting a better job etc. etc.
The same can be said of our trading journey too of course. We start out learning about strategies and finding something to start off with, or even have a go at creating a strategy ourselves. Then we put that strategy to the test and learn to stick to our rules/criteria and also just as importantly, learn from our mistakes. Treat those losses as your education fees!
In all of the above in life, we have to put in the hard work to achieve our aims and goals and it is the exact same with trading too!
You need to practice and practice your strategies, so that you know them inside out and back to front and they eventually become second nature. Once you are repeatedly doing something over a period of time, you become consistent in managing your trades and with familiarity, you will become confident of making the right decisions, by reacting to what you are seeing happen during a trade and protecting your trading bank too of course.
I have said this many times in my daily journals; there are no shortcuts and trading isn't a get rich quick scheme. Just as living life in general, you have to patiently build from the beginning and see where you get to.
There are some very interesting messages too in today's meditation and I love the last paragraph, which is very true and I quote; "Remember today that you'd be OK if things suddenly went wrong. Your actual needs are small. There is very little that could happen that would truly threaten your survival. Think about that--and adjust your worries and fears accordingly."
Put your building blocks in place as you negotiate a path on your trading journey. It may seem tough at times, but you've got this, so stick at it!