The Greatest Risk in Trading
The greatest risk is in believing that doing nothing assumes no risk. Life involves risks, so does trading, yet only an emotionally healthy person can assume risk. All things considered should a person work for $50 an hour when he can do the same work for $100 an hour? Of course not, why should a person leave his money at 1.5% taxable interest when they can earn 5% tax free when both investments are backed by his nation’s government with equal liquidity? Return on time and money are the same. Both are personal responsibilities of all self-reliant successful individuals. Each must provide for the individual’s selected lifestyle. Change is opportunity only to a person who believes in his ability to create positive value.
To become a self-reliant successful trader, you must first make the personal commitment to educate yourself for success. You seek out and find a successful role model. Find a successful trader and model your education on his trading approach and methods. Attending a “”shotgun” approach seminar, like those given at “TAG” seminars or those given by Futures Magazine, or the Futures Trading association introduce beginning traders to many different trading approaches. But to what end?
I wonder how many of you realize how much time I still put into educating myself to understanding what is happening in the market. But after awhile I grow weary and have to rest.
Take a break. If the markets have worn you down where your senses are not sharp or your attitude is not as positive, go for a walk in the woods or visit a national park. Recreation recreates the spiritual well being of an individual’s soul, restores perspective and revitalizes trading energy. Wilderness helps a trader to achieve the balance between his market-stressful energy and life’s natural healing energy forces. Photography, painting, writing poetry, all are excellent artistic pursuits. They can benefit most traders. Try looking up at cloud formations or note the repetitive patterns found in the center of wild flowers. Try looking at patterns formed by waves against sand. Sit out one evening and gaze at the stars. I did that so many times when I was in the mountains of Africa. The clear sky would be so dark, that you could see millions of stars. You could actually see the GPS satellites pass by every 10 minutes. If you are too busy to reflect on life, you are missing an awful lot. The creation is awesome, and so is the one who created it. Deep in the heart of every human is the knowledge that someone must have made it all. It is just too fantastic to have been an accident.