During the next few weeks I won’t be able to post my regular daily links as I will be attending to some personal matters. However, I won’t totally be away. Instead of my usual commentary on the market, I’ll be sharing a few posts on the psychology of trading. Hopefully you will find value in taking a step back with me and discovering, or rediscovering, the winning philosophies of traders past and present.
The reality of trading is no matter how awesome your trading system may work in theory, you still must execute with real cash on the line. If you clam up when experiencing a series of painful, losing trades—you must not waver. No trader wins all the time. Conversely, you must be careful to avoid taking profits too early on winning positions because you just KNOW the market will turn against you at any moment. I firmly believe a trader’s mindset is just as important as any other factor.
Trading is a process with parts science, math and art with a dash or two of luck. I’ve been trading for four years and I have had my share of ups and downs and can confess I’ve been guilty of breaking just about every trading rule ever put to paper.
I started this blog a month ago with the hope of sharing my insight with you, dear reader, and to learn from you too. I plan to keep the Rip City Trader alive for the foreseeable future to see where it takes us. I can’t wait to continue the journey.
Upon my return in mid-December, I’ll be back to curate my daily links and provide my thoughts and research on the futures markets I follow closely.