What we fear doing most is usually what we most need to do. As I have heard said, a person’s success in life can usually be measured by the number of uncomfortable conversations he or she is willing to have. Resolve to do one thing every day that you fear.
I often find myself in trouble when I fail to admit the reality of the situation. I cling to my thoughts of what is supposed to be happening here. As if my need is enough for reality to bend to my will.
Often the reality is laid out right in front of me, but I fail to recognize or acknowledge it. And I further compound the problem by being unwilling to have the conversation with myself about assessing where I am now, and what needs to be done to get me to where I want to be. Instead, my ego digs in and wants to fight himself out of the foxhole he’s built. Just so he can say — “See! I told you! I was righttttt!”
More times than I care to recount, my trading has suffered because I believed — was determined — that I should be able to earn X amount of dollars per day, per week, or per month with my trading. And I would do everything in my power to attempt to force that inevitability to happen. But the reality of my situation was that my personal profit targets, while attainable at times, could never quite be achievable with any level of consistency with the amount of capital I was putting up at risk.
Naturally, I would then blame the amount of capital I had as the key factor in my lack of success. But that, of course, is never the answer. It’s just shifting blame and not taking responsibility for my own actions. The real crime was my lack of intellectual rigor in thinking through, building, and executing my trading plan.
I, like you my dear reader, am still a work in progress — on all fronts. As it pertains to my trading, I’m trying to find the courage to ask myself the tough questions. And not to be afraid of the answers. It’s often said, “the only way out is through.”