The Sword Dangles Over You
"Don't behave as if you are destined to live forever. What's fated hangs over you. As long as you live and while you can, become good now."
— Marcus Aurelius, Meditations
We seem to be having quite a run of deep and heavy meditations recently and today's meditation is no exception!
I suppose we could use the quote by Marcus Aurelius, which introduces today's meditation and change one word in it, from the opening line and I quote; "Don't behave as if you are destined to "win" forever. What's fated hangs over you"
As I have said many times when writing these daily journals, You will not win every trade. You must accept that there will be occasions when even though everything fully meets your rules/criteria for your strategies, based on the historical stats/data that you have available, the trade will go against you. It happens and it's all part and parcel of trading of course.
As Marcus Aurelius quotes; "What's fated hangs over you." So with that in mind, you must be prepared and fully "in the zone" to be able to deal with whatever the market throws at you, by reacting swiftly and decisively, before your trade becomes unmanageable and a threat to your trading bank.
As I have said before, it's a balancing act. The majority of your trades will go as expected and hoped, so as long as you fully manage those trades that start to go against you, early enough, you will be long term profitable, as your winning trades will far outweigh your controlled losers.
Don't be stubborn and refuse to accept that a trade is going against you, because you can easily end up with the mother of all losses!
Like I have also said many times before; If you are in the land of hope, praying that a trade will turn back in your favour, you've left it too long.
Don't allow that sword to dangle over you! Cut your losses in a heartbeat and move on. You can do it with lots and lots of practice. Stay patient and disciplined and accept what the market offers you. You've got this!