It is really important to be able to be honest with yourself – when you see conditions like today and several pro-traders are saying, “This is a crap trading environment”, at that point it isn’t a matter of how much you learned or how well you know a method, it is all about self-control. Are you able to sit back and not trade – to use the time to study, annotate charts, make lists, adjust your scans, etc. At some point, if you were to become a full-time trader, you don’t have the luxury of saying, “Nah, not going to trade today”, at least not very often – but while you are learning you absolutely have that option. Whether or not you take it is a matter of mindset, not knowledge. It is knowing yourself and limitations.
December 1, 20221 min read