Thursday, March 18, 2010
The Daily Note - Matters Practical
Let's start with a definition:
prac·ti·cal: consisting of, involving, or resulting from practice or action: a practical application of a rule.
In trading, as in everything else, there are rules and one must follow them in order to be good. Or to be practicing this trade, one must be practical. The repetitive motion of trading is required in order to recognize patterns. Like anything we have to learn, initially, the repetition or the practice of the action will result in actions that follow those rules.
Traders who think they can skip that part and go right into action without practice are putting their new found occupation in jeopardy because then they do not : adapt or design their own trading rules for actual use; which is another definition of practical.
Knowing that in the end, success is the goal, skipping the practice and learning mode of trading will deprive the trader of being: mindful of the results, advantages or disadvantages of the action or procedure they use; which again is part of being practical.
In other words, emotion tends to rule when one is not matter-of-fact; yep, another definition of the same.
So the lesson to remember is that in order to be: inclined toward or fitted for actual work or useful activity, (you guessed it) practice should be welcomed rather than shunned.
Happy Trading, Living and Dancing
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Posted by Anni_V