Simple Doesn’t Mean Easy
When I started this transition and I began trading momentum (read more about it here) I knew that the ultimate success wasn’t going to be easy to achieve. In fact, I told you I’d have driven you through every turn encountered all along this journey. I still believe that is even more important to face this challenge and to take the best out of it when it’s the toughest.
The last three trading days have not been the best for me and I’m here in a great effort to learn from my mistakes and make the right adjustments to be back fully on track. My best lesson to learn is about not being too hard on myself and to develop the level of mindfulness required to master this strategy. After all, I haven’t gotten too much excited last week, when I closed green in four out of five days. I have applied risk management wisely, so that losses have been accurately trimmed and are nowhere close to knock me out of the game.
That is also why I decided to limit my exposure until I’d have proven myself to be consistently profitable. In this way, I’d have not felt beaten down once a bad trade or a bad day happens. That is also why too many beginner traders blow up their accounts in an unnecessary rush to make money. But I’ll go further in detail on explaining the trades that I took in my weekly video recap. Instead, here I want to focus on a more general concept that I believe can be more beneficial to you when working with an apparently simple strategy.
In fact, understanding a strategy is just the first important step towards the goal of being a successful trader. Moreover, even if a strategy is simple, it doesn’t mean it’s going to be easy to apply consistently. If it were easy, there would have been so many more traders being successful at their first attempt (but we all know that only 10% of them are really to be considered winners in the long run).
So, applying a simple strategy that you may have completely understood does require a very high level of commitment and hard work. Every tiny detail needs to be at the right place in order to flow the way you were expecting it to do since the beginning. I’m writing this article mainly because I wanted to be true to my word and share with you every stage of this path. Soon enough, everything will line up and I will watch it working out nicely. Almost magically. Until then, let’s continue to ride this learning curve patiently.
“The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading.” -Victor Sperandeo
See you in chat-room.