Wednesday, March 09, 2016

Trading Meditation: Uncertainty Is The Way

Certainty is a problem for traders.

They want the answer to the question, "What will the market do".

I do not know.

Does that make me an idiot? 

No, it makes me smart.

I know that I do not know, and I accept it. I know that I am not in control, only the market is.

Because I know this, I trade the right way.

Certainty causes traders to hold on to bad positions, because they know they are right. It causes them to throw out stops and take big losses.

I know that I am wrong, a lot. 

For this reason, I cut losers and keep losses small.

I know that I do not know.

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