A few weeks ago I started an open thread, What are you certain about the market or trading?
I started with a few of my own:
If I do not take it will take from me.
You are only as good as your last trade.
Rigidity and complacency ends careers.
Always get paid for taking risk.
A trend never ends when it should.
As always the readers out did me:
I am certain that the only way for me to have a chance to be a successful trader is to do daily work and not become lazy or use shortcuts. via @chessnwine
I am certain I would rather take every planned trade and lose than not execute a planned trade. via rossgreenspan
I am certain I am always uncertain before taking a trade. I am certain when I am most relaxed in my mind is when I am doing the right thing regardless of the outcome. via MProfileTrader
I am certain there is no mathematical (technical) formula to beat the market. If there was, there wouldn’t be a market. via FuturesMD
I am certain that opportunities are easier made up for than losses. I add one more: I am certain that the habits or procedures we resist represents our true trading system at that moment. Via @edwardrooster
I am certain that trying to ‘predict’ will end in failure. Via @rougetraderette
I am certain that most of my trades that I convince myself to make investments will end up losing money. I am certain that if I do not plan a trade including stop loss points I will be sorry. I am also certain that I will violate both of the above sometime in the next month. Via AVIONIC178
I am certain that I know myself…. or at least I think I do for the moment. via Florenop
I am certain that uncertainty is a concept that most traders need to come to terms with before any sort of success will be attained. via Zen Trader
I wrote this post for two reasons, I like to get interaction and find out how people conceptualize the market. The second reason was to help solve a problem that you maybe having. I was speaking with a young and talented trader who was going through a rough patch. I asked him to name 5 thing that he was certain of. I was actually surprised by his response, they were all the right things.
The next question I asked was how many are you practicing and following? He responded with less than the 5. The point is it does not matter what we are certain of unless we believe in it. The distance between knowledge and believing in it enough to affect action are millimeters for some and miles for other.
Thanks again for all of that commented on the first post, if you leave a comment below I will be sure to add it.
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