To build strong results you’ll need a solid base to work from. But in the face of uncertainty, where do you start?
All the crazy numbers, erratic moves and ‘hear say’ on forums can make the task ahead feel somewhat daunting…
Having a clear list of priorities is key. If you’re a little lost right now this post will help!
Everyone crave’s progress, it’s part of being human. However, unlike many other tasks in life trading can feel somewhat confusing. Usually because it’s hard to quantify your progress without a concise set of records. Even then your records can be skewed by a little erratic behaviour (that’s not unusual as you press ahead).
To progress as quick as possible though; it’s important to keep those records while constantly refining what you do. Understanding the conditions and having as much information available as possible. It frustrates me how often I hear from people who are making some kind of progress only to then literally throw it away by not keeping themselves in the know. Example; trading close to post time with no live feed from the track.
There’s a strikingly obvious pattern between those that make progress and don’t though, unfaltering persistence. Knowing that it’s possible and remaining persistent in the face of adversity you have a lot better chance of success… unfortunately that alone won’t leave you a winner though.
Reliable results have to come from some kind of solid base. For me, in trading, that’s consistency every time.
Others may employ very different trading styles, but I need to be in a good place mentally to produce my best work. I can’t do that if my results curve looks like something from Alton Towers.
I struck gold when I realised why certain things work. More importantly how I fit in with that mentally… Others may feel very different about a roller-coaster profit and loss, but it’s not for me. Understanding myself in the moment is just as important as having an edge over the market behaviour.
Once a level of self-control and understanding is achieved things become far easier. I’ve heard others describe a breakthrough as a ‘Eureka Moment’ many times over, for me it was the realisation of how important consistency is. Why? Because the market doesn’t care. It’s going to do its thing anyway…
Once that moment has happened, trading becomes a kind of ‘rinse and repeat’ process. Which is where the real growth takes place!
See this clip from a while ago where I talk about consistency: