Show, Not Tell, What You Know
"Those who receive the bare theories immediately want to spew them, as an upset stomach does its food. First digest your theories and you won't throw them up. Otherwise they will be raw, spoiled, and not nourishing. After you've digested them, show us the changes in your reasoned choices, just like the shoulders of gymnasts display their diet and training, and as the craft of artisans show in what they've learned."
— Epictetus, Discourses
Today's meditation is interesting and the opening quote by Epictetus, confirms what we need to do as traders. When we come up with ideas for a strategy, it is initially raw and not fully tested and there will be a few tweaks along the way through mainly trial and error during the testing process. If we don't digest and test out these theories for a strategy, it can quickly go wrong! So we digest it, make the changes and stick to the reasoned choices of what makes it a good strategy over time. Patience is the key and the strategy will hopefully develop into something that can then be used day in day out, if you give it time.
If we can let our trading do the talking, because we are sticking to our strategies fully, by following the set rules/criteria that we have put in place, we can concentrate on doing the right thing and becoming consistent.
Remember; consistency breeds confidence and we become more and more experienced the more we practice. We also know that we have to be "in the zone" and stay fully focused with zero distractions, to achieve and keep that level of consistency.
It is all down to ourselves to put in the hard work; but if we stick at it we will be rewarded over a period of time.