Prepare For The Storm
"This is the true athlete — the person in rigorous training against false impressions. Remain firm, you who suffer, don't be kidnapped by your impressions! The struggle is great, the task divine — to gain mastery, freedom, happiness, and tranquility."
— Epictetus, Discourses
Today's meditation is yet again another example of how it can be compared to trading.
We can't control the outcome of a horse race or a football match, just like we can't control the weather of course! We can however, do our research and decide if something fully meets our criteria and execute our plan to the letter. This means we are prepared for any possible outcome because we have a plan and we know that plan works long term, as long as we stick to the rules!
When we enter a trade it means we are in a position where all our rules/criteria for our strategies have been met 100%. Because we do this day in day out, rinse and repeat, we know exactly what to do at any given moment. If the trade goes to plan we take our profit and move on. If the trade looks like it's going against us, we take our controlled loss and move on; before it becomes an unmanageable loss! Our trading edge is our advantage and we know we will be right many more times than we are wrong, based on the historical stats/data that we have available to us.
This is the way we "prepare for the storm."