The Philosopher As An Artisan Of Life And Death
"Philosophy does not claim to get a person any external possession. To do so would be beyond its field. As wood is to the carpenter, bronze to the sculptor, so our own lives are the proper material in the art of living."
— Epictetus, Discourses
Another interesting meditation today and we can use this in comparison to trading too.
By making use of the historical stats/data that we have available to us and then applying it, to confirm it meets all of the rules/criteria for our strategies, we are giving ourselves an edge, which we can then use to our advantage.
By practising using this method repetitively, day in and day out, rinse and repeat, we become more and more familiar with using our strategies and we know exactly how we need to react, regardless of what happens during a trade.
When the majority of our trades go according to plan, we take our pre-targeted profit and move on. On the odd occasion when a trade starts to go against us, we cut it short at our pre-agreed exit point, therefore protecting our trading bank in the process and ensuring that we stay in the game for the next trade and the one after that and so forth.
So by using today's meditation in a trading sense, we are carving out our trading path, to sculpt and improve our trading journey, along the way.
This all helps us succeed; but to do that we must be single minded and distraction free, to be able to always stick doggedly to the rules/criteria for our strategies, using the correct trading mindset to ensure that we fully manage every trade, until completion. Only then, do we move on to the next opportunity.
Our persistence and determination to succeed, by adopting a patient and disciplined approach, will reward us for our endeavours and help us maintain long term profitability.
The last line of today's meditation can be applied to our trading journey and I quote; "We must remember what we've learned and the wise words we've been given"
Let's stick to what we know and use this as a springboard for success! You've got this for sure!