Resilience Equals Profits in Trading

The most successful traders take setbacks with the same attitude as their winning trades. It is all the natural outcome of the situation. Each trade is an individual decision and each trade has the potential to either produce or fail. Traders who are able to reach this state of mind are more successful, happier, and more enthusiastic about their career and even life in general. This is because they have learned how to be completely objective about trading. Trading is not an indication of their intellect or a badge for their pride. It is how they make their living. Who they are as individuals and people of the world is saved for family and friends while they approach their work with a zealous appeal.

Not quite a portrait of you? Understandable. Not everyone reaches this state of mind at the same time. Some traders never reach it. However, going through the issues and learning how to be completely un--invested in the results of your trades takes a dedicated effort. If you're willing to dedicate the effort, your trading days will be much more enjoyable and your account will inevitably grow.

Every trader has specific skills that set them apart from the next trader. These skills can be honed, ignored, clarified, or wasted. Each trader also carries limitations that set them apart from the next trader. No single trader can do it all and do it all well. Trading is just as much a mental game as it is a numbers game. When the market can affect you on a personal limit, your limitations are emotional. When the market is just a place to receive information and gain insight into how to work it over to the best of your abilities, your limitations are lessened.

Don't get me wrong, every trader is human and there are days when the fight with the spouse or the problems with the kids comes into the day. But these are rare times, easily forgiven and gotten over, and don't usually end up creating poor trades. It's not the market's fault that you yelled at your spouse or that your kid is struggling in school. The more you can accept and recognize your limitations and build on your strengths and skills, the more successful and fulfilled you will become.

There is not a single trader out there who hasn't blown a little more than they wished they had or lost an opportunity because they were busy dealing with something personal. How you handle such moments makes the difference between wins and losses sometimes. How you handle these moments also determines whether or not it is going to affect the following trade. You have the power to learn to be resilient without bringing emotional baggage into it. You have limitations and skills, and you have the power to determine which of those is going to determine your actions.