In my recent post, I outlined how a trader's really achievement motivation tin atomic number 82 to "pressing": trying hence hard to brand trades spill out that trading plans together with rules are abandoned. This ofttimes happens when traders drib dead frustrated amongst losses or irksome markets together with endeavor to brand upward for the lack of results yesteryear sizing positions besides aggressively or yesteryear taking besides many positions. Traders press when they experience pressure, whether for profits, for action, or to make competitive payoff over other traders.
The consequence is a loss of self-control, equally aggressiveness takes over together with judgment takes a dorsum seat. Successful trading may live discretionary or system-based, but it should ever live rule-governed: controlled yesteryear basic considerations of chance administration together with opportunity. Indeed, this mightiness live an apt Definition of misfortunate trading: when the ask to merchandise overwhelms the ask to save together with add together to capital.
One of my favorite posters inwards my purpose is of a armed forces sniper inwards the field, peering out from soil cover. The caption beneath the motion-picture demo reads, "The sniper's greatest weapon is a sharply honed intellect. He combines a mastery of stealth, situational awareness, ballistics together with precision shooting skills into i of the close lethal weapon systems to ever blast fearfulness into the enemy."
If the sniper became besides aggressive together with excessively bored amongst sitting inwards the plain waiting for the correct shot, he mightiness trammel from his comprehend together with start out spraying the enemy amongst fire. Most of the shots would in all probability drib dead wild, together with the out-of-control sniper would chop-chop live located together with mowed down.
No, the sniper waits for the ideal shot: "stealth" together with "situational awareness" are essential tools of the trade. Being a sniper agency combining aggression amongst exquisite self-control together with judgment. It is controlled aggression.
Over the years, I've learned to merchandise similar a sniper yesteryear non placing i merchandise afterwards only about other inwards rapid succession. When a merchandise is concluded, I drib dead apartment together with human face for a fresh setup. During the waiting time, I refresh my "situational awareness" (assessment of marketplace conditions, my ain condition), together with render to my basic trading rules.
The thought is to merchandise exclusively when I get got an unobstructed thought of the target. Everything else is waiting together with preparing, staying depression inwards a defensive posture. It's the fourth dimension betwixt those shots at the target that furnish the self-control. It is hard to press if you lot get got the fourth dimension to reassess, reload, together with render to comprehend afterwards an errant shot. With repetition, that reassessment together with reloading drib dead automatic: your default trend becomes i of self-control.
Plan. Trade. Reassess plan. Trade: It's a musical rhythm that combines the best of achievement motivation together with aggression amongst the best of judgment together with forethought. It's a beautiful feeling to excogitation i skilful trade, execute it to perfection, together with hence sit down dorsum together with human face for the side yesteryear side opportunity. Any functioning skill, honed together with executed amongst precision, is a variety of run of art. I recall the best snipers empathize that.
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