Maxims From Three Wise Men
"For any challenge we should hold three thoughts at our command: 'Lead on God and Destiny, To that Goal fixed for me long ago. I will follow and not stumble; even if my will is weak I will soldier on.'"
—CLEANTHES
"Whoever embraces necessity count as wise, skilled in divine matters."
—EURIPIDES
"If it pleases the gods, so be it. They may well kill me, but they can't hurt me."
—PLATO'S CRITO AND APOLOGY
Today's meditation is a tough one to compare to trading. However, it's themes are of tolerance, flexibility and ultimately acceptance. These are all excellent attributes to have in our trading lockers for sure!
There has to be a level of tolerance and acceptance, that there will be trades that will go against us on occasion, so we need to have some flexibility in our trading, to be able to be ready to react when this happens.
Like I have said before; we have to be always ready to expect the unexpected, so it is vital that we are "in the zone" with zero distractions, so that we can be in the correct trading mindset, with a neutral opinion of what is about to unfold during every trade.
Although we are managing every trade fully to completion, the majority of our trades which go to plan, will manage themselves and we will take our pre-event targeted profit, without having to intervene. We must be ready for when this doesn't happen, to be able to react swiftly and take control and manage the occasional loss effectively, to preserve our trading bank and long term growth, which is our primary aim of course.
To summarise, we are tolerant of what the markets throw at us and we manage our trades accordingly. We are flexible in our approach and ready to deal with any scenario, through repetitively practising time and again, day in and day out. Finally we accept that anything can happen during a trade and that we have no divine right for every trade to go as planned, even though we have used the stats/data that we have available to us and every trade has fully met the rules/criteria for our strategies.
These are good habits, that will become second nature, when you concentrate on your strategies and nothing else.
You can do it for sure!