Appreciate the Joy of Trading!
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Lee Iacocca, best known for his revival of the Chrysler Corporation in the 1980s, once said, “In times of great stress or adversity, it’s always best to keep busy, to plow your anger and your energy into something positive.” As a trader, you know that there are good days and bad days in the market. Sometimes you wake up and you are excited to start the day, trading plan in hand, and ready for the challenges ahead. Other days, you may be in a bad mood, for whatever reason, and feel upset or frustrated. When this happens, Iacocca is right on – turn your energy into something positive.
That something positive can be an appreciation of the complex, exciting markets themselves. Some might even call them beautiful. Yet, to truly recognize the value of the markets, you need to step back, take a deep breath, and look at the markets from the “outside in.” Being a trader is one of the most enthralling jobs in the world!
Where else do you plan, anticipate, and find solutions to problems – all day, every day? What other role requires the search for a winning financial strategy, often without a lot of time to think! Mostly, trading is a creative role. It truly is an art. No two traders approach their job and the markets the same. Your intuition leads the way, and by remaining open and perceptive, you will not only appreciate the market, but will excel in your job. .It’s like finding the beauty in the beast!
Whether you are a waiter, teacher, or trader – when you are having a bad day, you are stuck in a “doing” mode – trying to be active but frustrated that you just cannot seem to get anything done. You are stuck, and without a focus on moving from “doing” to “being,” you will not be able to break out of your bad mood. Is it time to give up? Not at all! Rather than feel the weight of your world on your shoulders, take a deep breath. Don’t force yourself to trade.
Instead, spend the time learning about how you become a better trader. Research how successful traders have become that way. Study the markets. Once you have focused your energy elsewhere, you will see that your creative juices will start flowing again. Then – and only then – begin trading again. It’s a good bet that you’re “doing” mode will be back on track. You’ll see trading in a whole new light!
Trading for love means trading with passion. If you are trading for the love of the gig it would probably be useful to you to set some financial goals and rewards along the way to help keep you centered and focused. It is not always easy to remember where you were going when you are celebrating a good trade that you risked on or when you are mourning a poor result from a poor decision. Adding the concrete into your day can help you keep your emotional waves in check.
Trading for love and money is a great combination. It is always a huge personal success when someone can find financial success doing what they love and enjoy. It makes the daily grind a whole new ball game for everyone who benefits. However, for those who allow their love and money to intertwine too intricately, often their self esteem is affected by poor trades, and emotional trading begins whether the ego is inflated or deflated. Once again, sticking to the plan and using concrete measurements helps to maintain the balance that you have started with.
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