A Higher Power
"This is the very thing which makes up the virtue of the happy person and a well-flowing life—when the affairs of life are in every way tuned to the harmony between the individual divine spirit and the will of the director of the universe."
—CHRYSIPPUS, QUOTED IN DIOGENES LAERTIUS, LIVES OF THE EMINENT PHILOSOPHERS, 7.1.88
Another interesting meditation today and it's all about control.
We can't control the outcome of a trade, but what we can do is control how far we let that trade go, when it is going against us. This is vital of course for long term profitability, because if we can't control our losses to a manageable level, we will undo all the hard work and swallow up the profits from our winning trades!
We must have that pre-agreed cut off point, to protect our bank and stay in the game for the next battle.
Once the penny drops and we realise that we can't win every trade and we start to control our losses, it becomes the game changer and we start to become long term profitable.
Absolutely anything can happen during a trade, so we must be focused with zero distractions and ready to react, should we need to.
Once you get used to doing this, you will become more confident and consistent. The more you practice, the better you will become, as long as you stick to the rules/criteria for your strategies.
As traders we have to accept that there are things outside of our control, so we have to concentrate on what we can control, by fully managing our trades to completion.
You can do it!