Let me tell you a story of Jim.
Jim is a technician. Jim started trading in 2007. Within 2 years of this trading (2007-2008), Jim made great losses. A very depressing period for him. He lost almost all his savings ($60,000 worth of losses) that he has saved up for the last 6 years. He almost wanted to give up and he wanted to look into other areas to make back the money. Fortunately, the numerous failures did not force him to give up.
Instead he continues to persist on because he believes in his decision to become a good trader in the market and to establish another channel of cash flow for himself. His age is catching up (almost 50) and without a good academic degree, he would not be able get another job with a reasonable salary.
He believes that he has gone through part of the training in the trading lifecycle. He understands that what he is undergoing previously is part and parcel of becoming a trader and also part of the training for his psychology.
Some Time Later
Not long later, Jim has succeeded in becoming a good trader (unknowingly) and recovers back his losses and on top of that, makes money on a consistent basis. He is no longer afraid of the changes in the market because he has a good understanding of the uncertainty in the future. He embraces the fact that things could turn out wrong.
He knows that it matters more to him on how well he make decisions with the information that he has on hand and not so much on whether he is right or wrong.
He also understands that by not moving is a good move. And by moving may not be a bad move either. Most importantly is how he forms that decision to move. Believe it or not, this is how he continues to make his money. What he has achieved is a strong psychology and that has enabled him to make his money in the market. Not many people focus on decisions. Most people focus on outcomes.
I would like to caution that
Focusing On Outcomes Usually “Kill” Most People.
Focusing On The Need To Have A Relationship May Not Bring You Happiness.
Focusing On Why You Love The Person Will Bring You Happiness.
(Sorry if I use the wrong analogy as I am not an expert in relationship)
Whether it is In Trading, or in our daily life, we are bound to make many decisions daily and those decisions leads to outcomes. There is no need to be too fussy of the outcomes. There may be some bad and some good. What is your motivation in making a decision and to act on it?
Be Consistent In Your Analysis of The Current Information – This Forms Your Decision Point.
Do Not Be Swayed By Bad Outcomes.
Having The Ability To Focus On Decisions And
Not Purely on Outcomes Will Often Lead To Happiness In Your Life.
This Is True. I Hope That You Can Embrace That.
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