Know Thyself — BEFORE It's Too Late
"Death lies heavy upon one who, known exceedingly well by all, dies unknown to himself."
— Seneca, Thyestes
Today's meditation is interesting and it's very true that people find out lots about other people such as celebrities, without getting to know about themselves!
You can actually get to know quite a lot about yourself through trading! For example, we know that we need to be patient and disciplined to stick to the rules/criteria for our strategies and ignore all the noise from everything else. We also need to be able to adopt a neutral mindset once a trade goes in play and react swiftly and without hesitation, if it is going against us, so that we can cut our loss at our pre-agreed exit point to ensure that we protect our trading bank.
We must develop the correct trading mindset so that we are fully focused and "in the zone" every time that we trade.
There may be certain habits or practices that you undertake, before the start a trading session. Mine is to take a pre-trading walk, to clear my mind so that I can focus on the session ahead and a short meditation.
Getting to know yourself is an interesting take on what we do as traders.
If we can master ourselves and our thoughts and actions when trading, we can be successful and profitable in the long term. So practice as often as you can, rinse and repeat, so that you know exactly what to do at any given moment during a trade.
Like I have said before in my daily journals: because of the historical stats/data that you use, the majority of your trades will go as hoped/expected. The difficulty is being able to react quickly enough, in an almost robotic fashion, on the odd occasion, when a trade is going against you and BEFORE it becomes unmanageable and a serious threat to your trading bank!
This takes lots and lots of practice and you have to be prepared to put in a lot of mundane and repetitive hard work.
Like anything in life, the more you practice, the better you will become.
You may be surprised how much that you are getting to know yourself, as you learn, adapt and evolve on your trading journey.
You can do it if you put your mind to it! You've got this!