Spending every day at the golf course might have meant lots of long, hot hours in the sun, but it didn’t mean that I had my best game every time I showed up. Some days I just didn’t have it, and there are days like that in trading too. In high school and college, we used to have to qualify for every tournament. If I wanted to make the traveling team (top 5), I’d have to earn it. We would play anywhere from 1 to 6 rounds to determine who would get to travel and who would get left at home, and I can certainly say that I didn’t have my “A-game” every time. Some days I just had to stick to what was working even if it meant I attempted fewer kinds of shots. If the low pull-fade was the shot that was working and a high draw wasn’t in my repertoire, then I played for the low fade! It kept me in the game and made me a tougher competitor as a result.
Trading is similar in that certain plays won’t work sometimes. Breakouts don’t work well in choppy markets, so you have to turn to reversals to make your money. Your bread-and-butter play might not be there for you under certain market conditions, so grind it out by finding another way to profit. Adaptation is the key !
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President, The Stock Bandit, Inc.
[tags]Golf, Trading, Trading Psychology[/tags]