A Strong Soul Is Better Than Good Luck
"The rational soul is stronger than any kind of fortune — from its own share it guides its affairs here or there, and is itself the cause of a happy or miserable life."
— Seneca, Moral Letters
An interesting read and we can certainly relate today's meditation to trading too.
If we stick fully to our strategies and only trade what fully meets the rules/criteria for those strategies, we are giving ourselves the best possible chance to succeed in the long term.
As long as we fully manage our trades to completion, taking our targeted profits or cutting short losing trades at our pre-agreed exit point to protect our bank, we are certainly not relying on luck!
Our strategies are relying on the historical stats/data that we have available to us, which means that we will be right many more times than we are wrong. The trick is to cut short those losing trades, before they become unmanageable.
This is where we rely on our strong soul, to ensure that we make the right decisions and react to what we are seeing happen early enough, to protect our trading bank.
So practice executing every trade as well as you can and manage those trades accordingly. By doing this day in day out, rinse and repeat, you will become consistent in your decision making, more resilient to be able to react in a heartbeat when trades are going against you and you will also become more confident, patient and disciplined.
Your trading journey is long and arduous, with many bumps in the road along the way. You need to be as prepared as you possibly can be, for whatever the markets throw at you.
If you have a strong soul, it will always be there; your luck however, can change in the blink of an eye; if you push your luck it will eventually run out, meaning it cannot be relied upon.
It's down to you to stick to your rules rigidly and stay strong, patient, disciplined, fully focused and "in the zone" every time that you trade.
As the title of today's meditation says; "A strong soul is better than good luck"
It can most certainly be achieved! You've got this.