It is a Good morning...
Well, I occasionally go through the long list of people, firms, exchanges and the like, who follow my social media accounts.
I'm sometimes surprised to see that it is list of who's who. Many are the largest names I once looked at when I was not a household name in the industry.
I see many of them discussing the recent increased volatility in the markets. You have been primed well in advance of this and it should bring you satisfaction that you were not victimized by sudden events in market pricing, as we talked about it long before it materialized in the markets.
This volatility is going to increase. It may impact us as Traders to a degree that it forces us to remove our equity by our choice... to preserve capital. This is wise, this is prudent, it is not weakness or fear.
I am reading so many inexperienced or blatant gamblers belly-aching over margins being increased. Or prop firms lowering exposure or contract maximums on customers.
If you are angry over this, you are a fool. If you feel cheated, you are trying to gamble. If you complain about it - you literally are telling the world that you have no risk management, you are out of touch with Global Risk, Gap Risk and deserve to experience financial Darwinism.
Don't be foolish and treat speculation and trading like online poker, only to discover your actions lead to an extinction level event for your finances.
Slow down, size down.
It is time to put on your Risk Management cap and conduct yourself as the world's most patient Risk Manager in the world.
If you disagree, unfollow me... please.
@DanDowdTrading Maybe he trying to say the more thought you put behind physiology the more you will tend to mess it up. It should be binary, 1’s and 0’s, do this or do that, stop or go.
There is a simple formula to profitability.. a lot of it doesn’t come from trying to learn from others.
Yes, you can learn a proper trading method.. risk management.. fundamentals, etc.
The implementation of the above however.. solely lands on YOUR shoulders.
YOU carry the weight of your decisions in the markets.
YOU have shortcomings.. whether emotional or execution related.
Only YOU will be able to find solutions to your problems.
Find your errors, fix them, and watch your trading improve.
Nothing else matters.