What Will Prosperity Reveal?
"For even peace itself will supply more reason for worry. Not even safe circumstances will bring you confidence once your mind has been shocked — once it gets in the habit of blind panic, it can't provide for its own safety. For it doesn't really avoid danger, it just runs away. Yet we are exposed to greater danger with our backs turned."
— Seneca, Moral Letters
Another interesting meditation today and it immediately made me think how important it is to not be panicking and worrying when you are trading!
You need to have the correct trading mindset and be "in the zone" at all times; adopting a neutral mindset once you have entered a trade. This means that you can react accordingly to what you are seeing unfold, rather than freezing like a rabbit trapped in the headlights of a vehicle, stunned by what you are witnessing!
You get your edge from the stats/data that you have available, but it is vital to cut your trade short, if it is going against you, at your pre-agreed exit point, BEFORE it becomes unmanageable and a danger to your trading bank.
The more you can practice this method of managing your trades, the more you will become confident of consistently making the right decisions and you will be less likely to panic and stress or worry about what could happen.
It is much better to hope for the strength of character to make the right calls when trading, than to hope for good fortune that your trade will turn back in your favour when it's going against you!
I have mentioned this on a few occasions; we don't rely on luck because luck eventually runs out! If you are still in a trade and in the land of hope, you have quite simply left it too late! Do you know where your exit point will be, if needed, as soon as you enter your trade? You should know this 100% of the time, every time you execute a trade, so that you can manage it fully, to completion.
I love the last couple of lines from today's meditation and I read them a few times over, to digest the message fully and I quote; "Consider every action and every thought--think of them as building blocks of your indestructible character. Then work to make each one strong and significant in it's own right."
Put in the hard work to get everything right and in place and you will prosper for sure, on your trading journey!