First, I'll give mention to Caan Berry who has referenced a conversation we had earlier this week, in his latest post. That conversation sparked a train of thought, at stupid o'clock this morning, which led me to ask myself certain questions and relay them here.
Personally, trading is tough for me at present. The EPL is yet to show any real tradeable form, the change of codes in the nags, plus I'm waiting for some questions to be answered around cross matching in-running. In one of his many video blogs, Peter Webb suggests we are entering the time of year when many question their trading ability and some even give up, (Jan/Feb being the worst months). So, how do we ensure we do not fall foul and press on? Belief!
There's a DIY ad around at the moment, where people in it stand back and admiringly view the shed, shelf, paint job etc, that they have just completed, and we hear them proudly think "I did that".
We have all had moments like that. A job or promotion you wanted, a project you completed, something that made you both very proud but also surprised you in it's very achievement. That is the seat of belief. "I know I can do this because... "
Of the numerous schools of thought I subscribe to one is - taking the path with most resistance.
Sounds illogical, I know, but bear with me. During our conversation, Caan talked about how the Monday card was poor and, for a novice like me, can be difficult to trade. Perfect. If my ability to trade grows out of trading really difficult markets I can truly make the best of the easier ones. Where as, should I do all my learning on Saturday afternoons, my overall experience of the markets will be skewed and making good trades on the more difficult week days will prove really tough. This is how I forged my corporate career so, rightly, I believe it is the right approach
Another subscription is taking a lesson from every experience. Edison's much used quote of finding thousands of ways not to make a light bulb is the perfect example. Go back over your records, there are always trades we remember that confirm our ability to do things correctly. There are also trades that confirm our ability to get things wrong, the fact that you have a record of them and what you know to avoid should give you confidence and belief in your ability to continually hone your skills.
NB - I was about to publish this when I remembered a footnote I wanted to add: The most successful people we know are not successful because they have inherent ability, a natural talent. They all did one thing with great skill; they aligned themselves with people who had the knowledge they were lacking. In short, they asked for help...
Happily, there are some good games around this weekend. I see opportunity at Arsenal, Chelsea and Barca in particular.
Stay green and, above all, never give up - you don't know how close you might be.