No One Will Believe In You More Than Yourself
If you happened to read some of my articles, you already know how much importance I preach when I watch, recognize and execute a trade in the present moment. In fact, what counts most is what’s actually happening at each moment rather than what we think should be happening. The ability to recognize this is really what makes a day trader successful.
Earnings season are very important for traders because it is where there is that one catalyst that often brings a high amount of volume and volatility which are two key factors in what makes a stock worth trading (read more about how I build my own watch-list every day here). During this time, it’s very common to see stocks plummeting despite earnings beat or skyrocketing after what seemed to be weak earnings numbers. This just goes to reinforce what I’ve written above because market is irrational and not realizing it can be a costly mistake.
The fact is that nobody has a crystal ball and the ability to see the future in advance. Truth is, we all would have never made a single mistake on any executed trade in hindsight. When reality is that losses are part of every trader career and they are the best possible source of knowledge and they ultimately give the best opportunities for improvement. In fact, we would have never made a single change if we did not have to deal with that one loser.
On the other hand, nobody likes to experience the discomfort of losing money on a trade. I don’t like to think about it this way. We never should feel beaten down by a trading loss. Indeed, there is a big difference between a loss and bad trade management. We should only focus on the second ones when they happen. That’s where the greatest opportunities for learning valuable lessons stand out.
When The Future Gets Scary, Look Back With Confidence
What I’d like to share here is about that bad feeling we all have experienced or that we may be still experiencing at current times. Because struggling has been part of every successful story, I strongly encourage anybody that finds them self in this position right now not to give up. Looking at the future can seem daunting because of what just happened. Look back with confidence at how much you’ve already gone through to get where you are.
It’s easy to feel beaten down after a bad trade simply because it’s human nature to experience tough feelings when the outcomes are not as good as the amount of effort that has been put into it. Since we’ve gone far already we can’t just forget about all the energy spent into learning and executing trades. Much better times are around the corner. What we need is to not stop believing into our own ability to achieve the goals we’re striving for.
In the end, no one else would believe in yourself more than you can. So, it’s time to let whatever is preventing you from getting where you want to be go. It will take hard work, discipline, patience and determination over and over again but it’s time to unleash your full potential. Think without boundaries about what you’re going to accomplish. Keep on thinking big because if you love what you do, you’ll win.
“If you believe in yourself, have dedication and pride and never quit, you’ll be a winner. The price of victory is high but so are the rewards.” – Paul Bryant
See you in the chat room.
Trade safe,
Roberto Barbaro