Why Trading should be like Watching Paint Dry
It has to be said.
If you want excitement, take $10,000 and go to Las Vegas for a day.
Trading should not bring about the same level of excitement.
I’m not saying, the entire process should be boring.
In life and with the careers you choose, you have to love what you do.
You have to keep the reward and vison in your mind, to drive you each morning.
And you need to have the discipline and integration to follow your plan each day.
So, should trading be boring? Um, yes and no.
Let’s start with where trading should be exciting and fun.
When Trading is a Thrill
This is where most people stay. They don’t take the necessary steps to open a trading account, fund it and grow their portfolios.
Instead, they stay in a feel safe and in control of their non-growing finances.
I still have members who’ve followed me for 10 years, and haven’t taken ONE single trade.
You need to jump out and take action.
The thrill of trading should be before the execution takes place.
This includes:
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Analysing the markets
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Optimising your strategies
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Searching for high probability trades
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Reading up on new trading developments and fundamentals
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Monitoring your results and working on your statistics
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Finding new markets and instruments to trade and add to your strategy
This part is an absolute blast. And requires no risk and no waiting.
But then, when you do find your trade line up and put in your trading levels and click buy / sell… Then…
Trading needs to be like watching paint dry or grass grow
Once you have taken your trade, set your entry, stop loss and take profit levels – you’ve done your job.
You now need to let it go and let the market to take over.
Don’t interfere…
Don’t get excited when it’s in the money.
Don’t fear when it’s going against you.
Don’t watch every tick.
It will drive you insane.
Just leave it alone.
It should be boring to even see what your trade is doing, because it’s out of your control.
If it hits your stop loss – cool… You’ve got your risk management in play.
If it hits your take profit – cool… You’ve got your reward management in play.
If you have rules to adjust your stop loss, when the market is moving in your favour – cool… You’ve got your reward management in play.
Rather focus on the next trade idea or the other bullets I mentioned in the beginning.
Keep control with what you can control and leave what you can’t control to the “stars”.
Trade well and look after yourself,
Timon Rossolimos
Founder, MATI Trader
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