Wednesday, June 24, 2009

Why Should We Bother?

When I first started this blog, I thought I would be connecting with a lot more like-minded people. But now, it appears it has become more a monologue than a blog - probably due to the fact that it's too light-hearted for serious traders and not superficial enough for the fashion-conscious divas out there. Honestly, I would rather be concentrating on questions like... is it OK for me to have a French manicure whilst also having red polish on my toenails at the same time? For me, it is OK even if it's unconventional. Toenails should probably always be red.

Anyway, I finally feel like I'm almost getting there with my new and improved forex trading strategy.

Still, it didn't prevent me from having one impulsive moment today where I threw logic and common sense out the window. I traded FOMC. If I ever received any good advice, it was never to trade the news in the forex market. I did it anyway.

I didn't condemn myself as much as I would have had I been the old me. I had a rather good laugh about it, but hopefully, this time I've really learned the lesson and will apply it to future trades. A news announcement for me is rather like a stop sign - or should have been one anyway.

So why do I continue bothering even if my successes seem small and my losses seem big? Failure is rather like a stepping stone to success. We'll never know if the next trade will be a success if we don't try. And now, I know it has more to do with my mindset and discipline than my actual strategy. But consistency is key. We need to actually have a consistent strategy and test it out over a period of time before deciding whether it actually works or it should go in the recycling bin.

I read the most
inspiring article today at work which made me realise that even if we feel that we're somehow stuck and it's always one step forward and three steps back, we always have the power to change ourselves and our mindset. Once that shifts, the rest will follow.

So why should I bother? I've changed, so this time it will be different.

No comments: