Anything Can Be An Advantage
"Just as the nature of rational things has given to each person their rational powers, so it also gives us this power — just as nature turns to its own purpose any obstacle or any opposition, sets its place in the destined order, and co-opts it, so every rational person can convert any obstacle into the raw material for their own purpose."
— Marcus Aurelius, Meditations
A very interesting meditation today and it actually shows that what lots of people may see as a disadvantage, others can turn it into a positive to take advantage of!
In trading we can take advantage of the edge that we give ourselves, by using strategies that we find or even develop and tweak ourselves and then use.
I find my edge as a trader, by using the historical stats/data that I have at my disposal, to my advantage. By following the rules/criteria for the strategies that I have developed, this gives me a long term edge, because I will be right many more times than I will be wrong, when entering a trade. Once each trade goes in play, I then develop a neutral mindset and trade what I am seeing, rather than what I expect or hope to see happen. Maintaining a neutral mindset when a trade goes in play, gives me another slight edge, because it means I am ready to exit a trade in a heartbeat, if it is going against me. As long as you can cut your trade at a pre-agreed exit point, before that trade becomes unmanageable, you are protecting your trading bank and because the targeted profits far outweigh the occasional controlled loss, you will also be profitable long term, which is your aim as a trader of course.
So as the title of today's meditation says and I quote; "Anything can be an advantage" and when we look at this from a trading perspective, my edge that I have developed comes from;
01) Using historical stats/data to determine the likelihood of what will happen during a trade. eg; the chance of a horse being held up/slowly away, early on in a race or the expectancy of two football teams starting a game slowly and/or cautiously for the first few minutes etc.
02) Knowing that absolutely anything can happen in a horse race/football game etc. and being fully prepared to cut a losing trade short, swiftly and without hesitation and therefore protecting my trading bank so that the next battle can be fought!
So in summary, have a think about what can be an advantage for you in your trading journey. The results of your findings, could turn out to be very useful for you as you develop as a trader.