How To Be Powerful
"Don't trust in your reputation, money, or position, but in the strength that is yours—namely, your judgments about the things that you control and don't control. For this alone is what makes us free and unfettered, that picks us up by the neck from the depths and lifts us eye to eye with the rich and powerful."
—EPICTETUS, DISCOURSES, 3.26.34–35
Another tough meditation to compare to trading again today!
It once more reminds us that if we can master ourselves we can be truly powerful in what we do.
This also applies to trading too of course.
Practising regularly, day in and day out, to consistently make the right decisions in a heartbeat, when trades are going against us, becomes an integral part of our progression as we develop on our trading journey.
Trading is easy when your trades go to plan and what we hope/expect to happen, happens. Unfortunately, there will be some trades that will go against us and this is where we must act swiftly and decisively, without hesitation, to control our loss and protect our trading bank.
If you can master yourself to deal with this tougher side of your trading journey, it will make a massive difference to your consistency, confidence and mindset, as well as your profitability over the long term.
It is all down to how much hard work you are prepared to put in, to achieve this level of consistency and I find that it is something that I need to keep on top of, every day that I trade!
This is why it is imperative to have zero distractions and to be "in the zone" to be able to rise to the challenges that you will face every day as a trader.
It takes time and it takes practice, practice and more practice! But with patience, discipline and a steely determination to succeed, you can do it for sure! You've got this.