Like trading, golf is an individual sport, and the victor in each must wrestle with their emotional state of being. It takes similar mental characteristics to compete on the golf course as it does trading. One mistake can be costly.
The markets are complicated, tricky, uneven, hard to master, and can be punishing when the wrong trades taken. Losses can add up quickly if position sizing is incorrect, losing trades aren't closed quickly enough, or when stops are not diligently placed and executed.
In golf, you can see it in the low scores, mental anguish, and tough competition at Augusta National in Georgia.
We (MarketGauge) can also see it when we hear about the low winning percentage of trades, emotional frustration, and difficult trading stories from hedge fund buddies, friends, family members, and new subscribers.
There are clear similarities between golfers and traders, and they share many of the same successes and frustrations.
Similarly, during the Masters, I often hear the golfers, when interviewed, say…
"I have to stay within my game, mitigate mistakes and not let my minor mistakes throw me off course."
Folks, the exact same thing is true for traders whether you are new, very experienced, or a professional full-time trader and investor.
You must control your risk, and not get too complacent or too confident, or scared by recent losses so that you start changing your game plan and set yourself up for failure.
Like the hallowed grounds that very few golfers can master, the markets have their own twists and turns and are as difficult to read as the greens at Augusta.
We built MarketGauge so you don't have to guess what the markets are going to do in the near future.
Click your subscription level below (free or premium) to continue reading, get the highlights of last week's market moves, AND watch your Market Outlook video.
Click here for the FREE Video and commentary
Click here for the PREMIUM Video and commentary
Best wishes for your trading,
Keith Schneider
CEO
MarketGauge
No comments:
Post a Comment