Tuesday, November 18, 2008
Trading involves ebbs and flows. Market conditions can persist for long periods of time or change rapidly.
The key is to be consistent: to create and execute a game plan that can be profitable and sustainable over the long term. I have noticed that when I get caught up in the short term factors (making money, not missing out, what are others doing) it takes away from the plan I have established for myself.
Many of us at Trading RM are focused on maintaining our consistency each and every day, week, and month. By implementing a consistent plan, I am laying the foundation for profitable trading. At the end of the year, I will not remember specific trades on a given day. However, I will look back and reflect on whether I executed my plan, and whether I kept putting myself in positions to succeed. By focusing on positioning myself for long run success, short term fluctuations are mitigated and I can focus on what's really important: my trading.
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