October 22, 2012 at 5:36 pm | | Comments 0

Find a Way!

Years ago as an aspiring professional golfer, I had a conversation with a veteran (PGA) Tour player.  I asked him what he thought some of the differences were between a guy like him and the guys on the next level down.  Both might go out and shoot 65 on a given day, but what was the missing ingredient for the guys below the top level?  They had plenty of game, but just couldn’t get to the next level.  What set him apart?

His response surprised me with how simple it was.  He said that a Tour player would almost always find a way.  He’d find a way to hit the fairway on the narrowest hole on the course.  He’d find a way to grind out a par after a poor shot.  He’d find a way.  It was about will, about focus, and attitude – not merely gaining distance or accuracy or putting in more practice.

It translates into trading.

Great traders don’t necessarily find better trades than those who struggle.  But they do find a way to limit the damage on their poor positions.  They find a way to get involved in a move – on some timeframe.  They keep learning even though they have plenty of past successes to reminisce about. They have a will about them, a focus, which prevents their mistakes from becoming catastrophes the way a struggling trader might.  Their attitude promotes success, not rationalizations for a shrinking account.

Stop accepting excuses for your underperformance.  HFT’s are prevalent in today’s markets, find a way to co-habitate with them (pun intended).  Elections happen and cause some uncertainty.  Terror threats emerge from time to time.  Market volume dries up periodically.  Find a way in spite of it.  Those who are successful always find a way, no matter the conditions.

Trade Like a Bandit!

Jeff White
Subscribe to our Stock Pick Service to get our trades.

Sorry, comments for this entry are closed at this time.