Athletes and traders face the same obstacles
Losing is not an easy thing - whether you are a trader or an athlete. I played sports through high school and had successes with leagues championships, and failures with plenty of losses as well. The losses are hard to shake off sometimes but there is an unwritten rule that athletes take, "Win or lose, turn the page."
In trading we must be able to turn the page too - when we win and when we lose.
When you look at market action like this in the EURUSD where one day is up the next is down, you can easily zig when you should zag. That can lead to some defeats in the loss column. However, what you have to realize is there is another trade. So keep your composure, follow your game plan and trading method and simple turn the page. There will always be another game...another trade. When the EURUSD trended at the end of last week, the small defeats were surpassed by the trend like gain. Those are the big wins that happen, when you are anticipating a move...when you are patient...when you follow your game plan and believe in your trading method. Mr. Draghi provided the catalyst and on Thursday and Friday, the price trended lower.
One of my sons, Brian, coaches American football as his job. The year has not been going all that well. The markets for the team have been choppy. Some key injuries, some academic issues (he coaches on the junior college level) led to some game suspension, and some costly turnovers from a young team, led to some losses. The team, however, kept the focus, kept the game plan, knew that there were improvements and they believed in what they were doing. On Saturday, the deck was nevertheless stacked against them as they were playing the top ranked junior college team in the nation. To them, however, it was another trading opportunity. They studied the team, like they have always done, they understood the nuances of their offense and defense. They followed their game plan, were disciplined in their assignments and won the game. They beat the #1 team on their level in the nation....
Brian posted on his facebook on Saturday after the game:
"Just upset the #1 Butler Grizzlies at their house. 25-20. D came up big! Giants fall hard! Unreal....
His comment reminds us to enjoy our victories. We must do that always.
What he posted the next day was more inspiring though.
"24 hour rule! Turn the page"
Follow the game plan. Believe in what you are doing. Sometimes defeat in trading can be a result of things beyond your control. So be sure to turn the page and look for the next trade. You may just catch a trend.
