“The criterion of truth is that it works even if nobody is prepared to acknowledge It.” – © 1962 Ludwig Von Mises (1881 – 1973)
Is this an easy state to attain? Some will say absolutely, while others just can’t seem to turn the corner and be in the ‘zone’. The important thing to remember is it is a learned process. There aren’t many traders I know that don’t have preconceived ideas of what is bullish and what is bearish – what constitutes a break out and what constitutes a break down. However, many habits have benefited me as a day trader over the years. One is identity… once I committed to the profession, I told myself I’m a professional retail trader, still retail but professional nonetheless. Then came the process of learning how information is transmitted, of knowing who is doing what in the market or the necessity of not knowing or caring who is doing it. These habits have freed me beyond what I can write on this post. Day trading is not always easy, but it allows traders to enter the market each day fresh and without an opinion as to the markets bullishness or bearishness.
This allows a day trader the ability to access and accept the current market mood. Market awareness is a critical to choosing which trading strategy to employ and is a subject I have spent some time writing about. Having an awareness of your personal emotional and physical state of being is also critical in realizing what may hinder your ability to step in and trade.
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CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS, IN GENERAL, ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
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