|Bruce Lee Statue Hong Kong|
So what are you supposed to do, put your head in the sand and wait for everything to be perfect? No, that's not what a successful trader does. As philosopher Bruce Lee said:
To hell with circumstances, I create opportunities.
Yes, I called the most influential martial artist of all time a philosopher. In the 100 trading quotes series, you will see at least 5 quotes from him, and he applied every one of them to his own life. We are talking about a guy who was a world renowned martial artist, philospher, actor, pop icon, teacher, mentor, poet and business man. He was a true renaissance man.
This is not a biography about that man, so we won't go into details, but take my word that he overcame great obstacles in each of these pursuits. For example, Lee created the concept of the popular show Kung Fu, but was not cast because of his ethnicity. The role of an Asian went to a non-Asian. Bruce did not give up and overcame the negative circumstance for Asian actors by creating his own opportunity and in doing so became a movie legend.
Here is the best example of Lee overcoming circumstance. Not able to find a martial arts style that fit his own athleticism and philosophy, he went out and developed his own marital arts system, Jeet Kune Do. How is that for creating opportunity?
CREATING OPPORTUNITY IN TRADING
Let's put Bruce Lee's practice to work as traders. While the market has been hitting all time highs, it's been a choppy ride with uneven market breadth. This type of market creates havoc for swing traders. We want to see sustained trends.
Okay, so the market stinks for swing traders. Does that mean we accept less than killer performance?
We dig down and find ways to win. We create opportunity. Specific to this choppy market, we ADAPTED our strategy by lowering out targets and taking quicker profits. We "play the ranges" instead of riding trends. We look for the setups that are working, like bottoming plays, earnings breakouts and remount setups. Now we are no longer trapped by negative circumstance and have created our own opportunity for success.
If you want to be a winning trader, you can not be a prisoner of circumstance. Instead, you knock down doors and create your own opportunity.
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