The Art of Trading

Trading is like a war. You can win one battle in a war, but that does not mean it’s over. The war continues. Too often traders are so focused on the next trade, or on making money immediately, they lose sight of the fact that this is a long-term business. If more traders would think of this as being a business they would understand that point more clearly. Do you know of any business that tries to make all the money they can in the first week or two? Or even a business that’s going to make enough money in one year to quit and retire? I don’t, and the ones that I’m aware of that operate on that principle are rip-offs and scams. They make a quick buck and leave town. The success of business comes from endurance and staying power. The difference between great forex traders and the many that have come and gone is that great ones are still here because they have a long-range view of their business of trading.

Many people that come into the trading game are lured by the prospect of instant wealth, which is like winning a ticket to travel first class on the Titanic. They start out too fast by over trading, betting too much on the trades, trading too often, trading too many markets. They want to make a killing. And that killing is now!

You have to get rid of that mentality, shake it off and realize that the massive wealth that has been taken out of the market was never taken out in a short time. The fortunes were generated by consistent application of effective trading strategies.

Many want to earn a daily income from trading. This is an extremely difficult enterprise to pursue – some days are good, some days are bad and remember trading is a marathon not a sprint. Good marathon runners understand the importance of their pace, this is the key to winning a race. Likewise wealth is generated by combining consistency and time. The traders subscribed to trying to put money in their pockets on a basis daily hit and miss – make it and lose it and in fact most just lose it without first making it.

Break out of the short term gratification mentality; trade as though you are in a marathon. Have perspective of the correct goal.

Be abundantly blessed!

“Fewer, better trades”

We’re not trying to catch every twist and turn in the market. We’re waiting patiently on the sidelines, like a tiger in the bush…waiting for the prey that strays from the pack, has a limp and is deaf ! To the tiger, it’s not sport to test his hunting ability, its survival ! He needs to eat and isn’t looking for a fair fight.

You’re not looking for a fair trade. You’re looking for an outstanding trade, because you’re not trading for sport, but for financial survival.

Wait…wait..wait

It might be hours or days or weeks.  Like the tiger lies still in the bush waiting for the prey to come to him, you wait for the market to come to you.