The Beat Goes On
"Walk the long gallery of the past, of empires and kingdoms succeeding each other without number. And you can also see the future, for surely it will be exactly the same, unable to deviate from the present rhythm. It's all one whether we've experienced forty years or an aeon. What more is there to see?"
— Marcus Aurelius, Meditations
Another quite deep and heavy meditation, yet again today! This seems to be quite a common occurrence so far this month actually!
Trying to look at it from a trading angle "the beat goes on" for us, every day that we trade.
Trading using our strategies, means that we are doing the same thing repetitively, rinse and repeat, as we get better and better and become more confident of sticking totally to the rules/criteria for our strategies; the more we practice.
Like I have said many times previously, when writing my daily journals, the trades that go according to plan will manage themselves. The odds will match at our exit point and we will take our pre-targeted, hedged profit as planned. It's the trades that are going against us that we must react to, so that we can manage them effectively and take a controlled pre-agreed loss, to avoid blowing our bank and undoing all the hard work of a few days or even weeks, if it runs to a full and heavy loss!
You should know your exit point as soon as you enter a trade and if it hits that point, you must exit the trade in a heartbeat, BEFORE it becomes unmanageable and a genuine threat to your trading bank!
This is the hardest part that needs to be worked on every time that you trade, because it is imperative that you stay in the game and that is impossible, if you blow your bank!
There is no quick and easy shortcut I'm afraid! It's all down to hard work and practising, time and again, and again!
It can be done if you set your mind to it, with a positive, patient and disciplined attitude.
Get out there and do it! You've got this!