This is a Guest Post by: Colibri Trader @priceinaction. This article is used here with permission and originally appeared here on ColibriTrader.com.
Receptivity and Trading- Believe in Yourself
Receptivity and trading?
Believe in yourself?
Does that have anything to do with technical analysis or fundamental analysis?
I am afraid it has to do with a lot more than just a trading methodology or style.
There are degrees of receptivity. Trading starts with observation; but the observation is always selective.
You have to look at the markets through a lattice of projected concepts.
Then you take a trading strategy and there are hardly any concepts. You don’t select and immediately classify what you experience- you just move through it slowly and progress with it.
Liberate yourself
Don’t look at other traders- even if they are amazingly profitable!
Liberate your trading mind from everything you know. It is almost like the first time an artist touches a canvass and creates a great piece of art.
You need a blank state of mind to start with. Look at different trading strategies as if you’d never seen anything before.
Look at trading results of other market participants as though they had no name to it and belonged to no recognizable trader.
Look at market data alertly but passively… RECEPTIVELY…without judging or comparing.
With NO LABELS.
Just pure meditation, reception and inhalation of the mystery that the market spirit brings to you.
Poetry for your mathematical mind.
Never imagine that anything in the markets exists in isolation- everything is interrelated and could be represented on a chart.
Everything!
So, liberate yourselves and don’t blindly trust what everyone is telling you about trading- believe in yourself!
Probability
All scientific thinking is in terms of probability. The old eternal verities are merely a high degree of likeness.
Financial markets are just statistical averages. Nothing moves faster than a reversal and goes slower than a consolidation area.
Sometimes I wonder if I studied the world by playing roulette or spinning coins and drawing lots, how much more advanced I would have been in trading.
By learning all kinds of games with cards, boards and dice we are training our receptivity and opening closed paths that remain forever closed when you start studying the markets at a later age.
Probability is not just a colorful word, but a depiction of a world-rotating mechanism that spins bullish and bearish cycles just like the wheel of the roulette- red after green and so on ad infinitum.
Yes vs. No
Never take YES for an answer.
The nature of markets is always NO.
Which is better- to be a losing trader in a profitable group of traders or a profitable trader surrounded by consistently losing traders?
Is it better to be subjective to market moves or to object when the market movers believe the market is going to experience a major move?
There is no direct answer to trading. Markets are going through a rigid dichotomy between science and mysticism.
We as traders will be in constant distance between reality and illusionary returns.
Doesn’t “distance” lend enhancement to the view? “Distance” reminds us that there is a lot more to the universe than just traders. There is a lot more to trading than just profits and losses.
Real trading is seen even in the shadow- it is real, indubitable and always out of reach.
But, hey- that’s what trading is all about- experiencing great amounts of excitement in-between rides of joy and odes of sorrow.
Of Fools and Traders
If the fool would persist in his folly, he would become wise.
If the losing trader persists in his strategy, he would go bust.
There is no middle ground in trading. One should chose a strategy that works and stick to it.
Will there be losing days?
Of course!
Will I be “that close” to giving up?
Only so many times…
What about persistence?
The most extravagant folly of all is the trying to make a marriage between losing and winning trading.
But if you persist in that enormous folly, what an enormous reward! Provided of course that you persist intelligently!
Unintelligent fools don’t get anywhere. Non-methodical traders are never the ones you see in the finals.
Good traders embark on their folly in a modest and appealing way.
Great traders go through “market made hell”. They learn how to become detached and then learn how to put an end to at least one kind of sorrow- emotional trading.
Believe in Yourself
If you’ve reached reading this far, it means you are better than the average trader or at least are more persistent in your efforts.
Either way you are on the right path.
Nobody said you should not give up, but if you chose not to give up you stand a chance to see what hides on the other side.
Believe in yourself!
Don’t let losing traders bring you down.
Become better traders today by first becoming a better person and learning how to move through adversity quicker.
Always help others first!
Be humble!
Happy Trading,
Colibri Trader
p.s.
Have you checked my article on the inside bar and 5 strategies to trade with it
For more articles by Colibri Trader check him out here on ColibriTrader.com and follow him on twitter @Priceinaction.