The Market Is Your Biggest Teacher- Giving Out Life Lessons Daily

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giving out life lessons

Well, it is my first day back in the markets in some time. I had an awesome trade early in the morning on Ethereum, but then ended up giving it right back because I was not patient enough to wait on my signals like I am supposed to. I got a bit hasty and wanted to make some more money, then ended up getting caught in the chop of a supply zone and, well, got my ass wrecked, plain and simple. The market was certainly giving out life lessons with my trades this morning!

The Market Puts You In Your Place

I can’t even be mad at the market because it was doing what it does best, it puts you back in your place. Actually the market itself is a neutral flowing thing and doesn’t really care about you or your feelings. This is also something you have to get through your thick head. What happens is you have to overcome your own shortcomings. It’s all in your head.

I got too cocky after my first big win of the day, was dancing around like “I am back bitches! YEAH!”, but then got slapped, HARD might I add, with 2 monster losses that set me back pretty big, way beyond my daily loss limit. That was the markets way of putting me back in my place.

Psychology Is EVERYTHING

In the world of trading, psychology is everything. You are competing with some of the best financial minds in the world, so you have to be on your game. Trading is really like a high performance sport, except you are using your mind instead of your physical body. But keeping that in tip top shape is key to good mental health. I am not in the best shape either, so that does play a role in my mindset.

I drink WAY too much coffee so what happened is that I just got ahead of myself after the good win, gave it all back, then was an idiot and went in for the revenge trade. Basically breaking ALL of my rules. In the revenge trade, I even cancelled my stop loss like an idiot, so I deserved to lose that money. I knew better, but I did it anyway. Sometimes that is an effect of being over caffeinated, so that is something that I am going to work on changing, PRONTO!

Remember To Stretch Before The Big Game

Being that I haven’t been in the markets in a while because I have been working on my 3D printing business, I should have just eased in instead of going right for the deep end of the pool. Like an athlete needs to stretch before a game, a trader needs to prepare for the trading day. I did not stretch, and it now hurts like crazy, lol. But, that’s the lessons you learn when you are playing in the big boy markets.

Even someone like me who has been in the markets for several years, made a good living from trading, stepped away, and even tries to teach lessons on charting and trading, makes some big mistakes from time to time. The big thing is I try to be honest and transparent about it because I am still a work in progress. That is the thing with the financial world, most of us are never going to be the top dog heavy hitters, we just need to find our place in the game.

So take it from me, every trader, no matter what experience or skill level still has areas of opportunities and times that they get slammed down by the market. The difference between an overall winning trader is learning from your mistakes and trying to better yourself everyday. The market is your biggest teacher, giving out life lessons everyday. It’s what you do with those lessons is what counts.

Now that I am back in the game, I have to get myself back in shape, mentally as well as physically so I can get back to the level I was, which was winning more than losing, haha. That is the name of the game right?

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