Stick to what’s comfortable, perfect what you know.

There is a lot of value and power in the title of this blog, “Stick to what’s comfortable”. I say that because that’s where your true “edge” resides. I’ve said to many traders that I’ve coached and mentored over the years that

“It’s important to understand who you are as a person BEFORE you can figure out who you are as a Trader”.

It’s in that level of understanding where your “trader self” exists. What I mean is once you understand your personal attributes, the stuff that makes you tick, you can then manufacture a way to apply those attributes to trading. For example, I am impatient. I want things done ASAP and I want to see results right away. Whats more, is I’m not huge of un-calculated risk. Those attributes have lead me to becoming a day trader.

Once I got honest with myself about my personal attributes, I found it easier to design a strategy that was comfortable and worked for me, rather than against me.

We all know that the financial markets are layered and intricate. There are hundreds if not thousands of ways to rip a few bucks out of the markets. With that said we as traders have the ability to custom make a strategy that fits our personalities. Once we find what’s comfortable, we can then move on to the next stage in the strategy building process which is” perfect what you know”. This is arguably the most important stage. The stage in which mastery can be achieved if the proper amount of dedication is applied. This is the stage that most of us traders will live in for years. Although markets change directionally there are strategies that can whether the storms of change.

For me, as a Day Trader, my intraday focus is on break outs with special focus on the importance of support and resistance. I have a firm understanding of technical analysis and I simply trade levels. That’s all I do! It’s that understanding that allows me to use my strategy to navigate through most situations. I have such a deep understanding and respect for the “potential” of the markets and a firm understanding of how to apply my strategy that I don’t stress out when I trade. When I trade, I do so like an algorithm, emotionless. My ability to trade in such a manner is the net result of “sticking to what’s comfortable” and “perfecting what I do”. This did not happen overnight mind you, it took years to master both concepts.

The ultimate fail point for most traders, is that they simply give up too soon. They throw in the towel and don’t push through the early stages hard enough. There is no focus or discipline. A large portion of that stems from not having a solid system to apply to trading. The 90% fail rate that plagues most newbies is also a result of not having a strategy or the right support group behind them. There is a growing number of people that come into trading and try 101 different approaches and get burned at every corner. They are trying their hand at Forex, Options, Small Caps, Bitcoin etc. (all which offer fantastic opportunities). Yet after every attempt they find themselves at rock bottom, traders skid row, if you will. To the individual that is looking for a sound approach to trading the markets and wants to have a clear and concise understanding of high probability patterns I offer you this simple and free advice: figure YOU out first. Then work on how to apply your attributes to trading. Once you have gotten to that point stay HIGHLY disciplined and emotionless when trading. Those two attributes will not only save you but will ultimately make you!

#TechnicalAnalysis #Trading #StockMarket #learntrading #strategy #swingtrade #tradingstrategy #stockmarket #daytrading #Daytrading #tradingeducation #tradingdiscipline

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