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There’s a saying out there that says, hard times create very, very strong people, strong leaders, and I can attest to that. I know a lot of you are struggling out there trying to make it get the consistency that you want, and I support you a hundred percent. But keep in mind that if this was easy, everybody would be doing it. Most folks try and fail. They just don’t have what it takes, and it doesn’t mean they’re bad people at all. It just means that the emotional constitution that you need to deal with, the uncertainty that’s omnipresent is too much for most people. You have to realize that you’re looking at where’s the culture of employment? Really in America, if you don’t own your own company, you’re probably an employee and everything is set for you in many ways, and you have certainty at the end of every month or every two weeks.
However you get paid, you’re going to get your paycheck. It’ll probably be eftd into your account. You probably have some type of benefits. You might have some payroll deduction that gets swept into a 401k. All of that is done for you, but your upside is limited, right? It is what it is. And maybe you can get a raise. Who knows? Certainly if you change jobs or try to apply for a bigger position in another company, you can get more money. But the way it works here in trading is that everything is uncertain. You don’t even know what your next trade’s going to be for the most part. So trying to jump into that culture, it’s completely 180 degrees at a phase with what most people know in terms of working and having employment and being able to deal with that level of uncertainty can really start to grind at you when you want to make big plans.
So when I think about the hard times, I can sit back every once in a while, I’ll do it. I don’t really sit back and start falling in love with my reflection like narcissist, but sometimes I just sit back and wonder and say, holy mackerel, I’ve come a long way considering where I started. So you just do a little bit at a time and for a moment in time, I’m proud of that. I’m proud of the persistence and the determination. You can’t take that to the bank. I’m so aware of that. But you do have to stop for a minute and celebrate the longer term wins, the ability to do it for a longer period of time. And so just realize that if you are going through some struggle and you’re trying to figure it out, that’s part of the process too. That’s part of thickening your skin. I think that’s actually a good thing for you to have to experience because at the end of the day, the markets are going to change, the environments are going to change. You’ll have new administrations in the White House, you’ll have new things happening around the world. You’ll have earnings, disappointments and otherwise. So being able to deal with that just really thickens your skin and welcomes you into the new

Of trying to make it as a trader, really no other way. And so that’s kind of like part of the hazing process is you working out your system, trying to figure out what rules you’re going to follow, put those trades on, have some persistence and determination, and show up for work the next day. Because so much of it is failure. There are a handful of people who can do the short-term stuff very well and have green days. If you can’t do that, it doesn’t necessarily mean that you’re a bad trader. Your returns throughout the month might be kind of spiky, but if you finish the month net net with wins over your losses, you’re still doing a great job. So that’s why I wouldn’t freak out about it. So just remember that you can define what you think is a hard time. I tend to be optimistic about things and be like, okay, how hard can it be kind of a thing?
That’s the gene that I have. And so I don’t really look at certain things as they go down. For me in the market where I feel I don’t want to feel victimized. I’m like, okay, well that’s just trading. I have a very broad understanding of the fundamentals of the markets and the industry itself. And so as long as I can get away with the losses that I’m willing to take, then I feel okay, I’m not going to go upside down about something that’s frustrated after putting in a lot of work. And I think that you can calibrate your system that way too, to understand that part of who you are and who you’re becoming is really going to be defined by diamonds are made under a lot of pressure, let’s put it that way.

The post Challenging times create stronger traders first appeared on MartinKronicle.

The post Challenging times create stronger traders appeared first on MartinKronicle.