https://www.youtube.com/watch?v=PAOhaOWXW9A
It is that day in your life, everything that could go wrong did. With a handsome bonus even. You failed. The results you got are opposite of what you expected. There you go: you think you failed since you didn’t meet your expectations, society’s or your business circle’s expected achievements. In reality, all you got was a feedback as a result of your input.
Let us talk about business failure. And you guessed right, I am going to talk about failure in trading financial markets. The stone garden of trading a.k.a the trading graveyard is filled with ambitious individuals who had expectations. Not to demonise ambitions but goals could be better. Besides they are the thin line between delusion and reality. Why did those bright individuals end up there - the stone garden?
A good number, a majority I may add lacked a hint about the nature of the beast. Being knowledgeable in your respective fields cuts none of you any slack. In financial markets, common rules are flipped. What you don’t know kills you, awaits by your grave to kill you again if you resurrect. Before you build your empire it is very necessary to acquire knowledge. Then you will know what to focus on.
Then we have a chosen few. The unlucky lucky ones. They find their way around the (Futures, Forex, CFDs, Commodities, Bonds & Equities) labyrinth. Their strategy works. Not only that but 60-80% of the time. In an effort to win big they risk too much and get caught in the 40-20% bad days. The results? They get wiped out. Next thing they think/say; the markets are rigged, they were lured, it is a scam… To which I say on Wallstreet bulls and bears grow rich, pigs get slaughtered.
To sum it up all who get the negative feedback (consequently thinking they failed) need to develop some gems of skills. An example is emotional intelligence. Once that is achieved realistic expectations(that word again) can be set. Also, their goals and routines would carry them through the occasional lows. Emotions are the Achilles heel that algorithms/EAs/robots use against discretionary traders. How can we hope to compete? Stay tuned…