Discipline - A Difficult Road
Discipline - A Difficult Road
Do you want the donut or do you not want the donut? What do you want more?
Although it’s such a powerful and basic question that can aid us with weight loss… the same principals will help us massively when we look at our trading game and it also helps us to observe our behaviors in a deep and meaningful way, which is something we all need to do in order to have longevity and success in this game - take my word on that.
Do we want to preserve our capital? Or do we not want to preserve our capital?
We all know by now (especially over the last 12 months) - that the stock market was a sideways mess for 9 of those months, and for the last 3 months - we’ve all been on-board the proverbial rocket ship, but the 1 thing I observe more often than not in my recent conversations with struggling traders all across the world, is there seems to be a bit of a misconception that the market recently has been a poor place to be…. and I trust the chart below shows that this just simply hasn’t been the case.
As per my process, I like to dig a little deeper into the underlying issues, and 9 times out of 10, there’s a short term strategy at play… whether that’s not giving your Options enough time, or whether it’s playing the Day Trading game (which we all know is mostly a losing game) - if you can make it work - congrats - not many can do it, but usually there’s a huge problem with discipline to go alongside it all.
It doesn’t matter what strategy you choose to play, if you don’t have discipline - you’re as good as dead in the market.
Most of you will know this chart inside out, given that over the last 12 months, I’ve walked you all through the ups and downs with a type of clarity that many so called “experts” just can’t articulate to you in the same / meaningful way - and judging by the number of thank you emails over the last 12 months, my discipline has helped most of you out there navigate a difficult market.
Those that like to day trade and have zero discipline in your locker (which usually means losses) - please understand you’re not beyond saving.
As the eagle eyed among you will see… this chart is also making you aware that Earnings Season is upon us at the moment, and although a lot of you will be familiar with the discipline I have and the rules I have in place during these incredibly difficult few weeks, I also know many of you will NOT be familiar with the discipline that’s needed in order to be successful as a Technical Trader.
For instance… what does this chart mean? how should I trade at the moment? do I get aggressive? do I get defensive? Or do I need to consider a few more charts to build an overall picture?
If you know what the charts are saying, and you know where to look - it’s half the battle… discipline will take care of the rest.
Aligning yourself with a group of disciplined Traders from LA to New York to London to Hong Kong and Australia - might just make the difference for you.
If you’re someone who struggles with discipline, if you want to learn a consistent approach with minimal stress, if you just want to be someone who can profit from the market, in a way that can change your life (for the better).
If you’d like to chat to us to see if we can help you in some way - just click the link below to get the ball rolling.