Friday, June 1, 2012

The Daily Note - I'm Satisfied

 Perhaps what I like most about what I do is the satisfaction I feel when a target is hit. I say this not to boast or to gloat but rather to bring attention to the feeling many traders deny. Although  I'm a good marksman with a gun,  it is actually in the game of darts that I learned the satisfaction of target shooting.  It's been many years since I was on a team, but the feeling of satisfaction when hitting the target and especially a game winning "out" will never leave me and recognizing that same feeling is of what I speak when playing the game of stock trading.

Often, traders can reach the level they set as a goal but that is when the ego begins to play tricks and where many traders forego taking profits, only because they think the same game will continue to a more glorious end. If you know darts however, you know that there is nothing better than hitting an "out" (getting to 0)  and ending there IS the win.

Like in tennis, there are several games in darts before the match is over, just like there are many trades possible in a day before the markets close.  So traders need to remember that  there is never shame or a loss in taking profits when the target is reached, but sadly loss is possible when the ego takes over and one forgets the rules of the game. When ego takes over, we throw darts without precision when we keep ego at bay, we pay more attention to our aim.

Remember that the ego plays tricks often to fool you into failure. Also remember that satisfaction is knowing that you played the game well to a winning end which cannot be belittled by the ego.  Building on the feeling of satisfaction, not building of ego, is what makes successful traders more successful.

Satisfied by Odds on Grooveshark

Happy Trading, Living and Dancing

 The Daily Pick - DJIA  outlook published on 22 May ~
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