Talking about trading, there’s one thing that I learned from a very good trader in Australia.
“You trade to survive, not to be profitable.”
What that means is, you need to set it clear in your mind that you are here to survive in the long run. Aim to preserve your capital first. Take the whole notion of profitability out of the equation for a little while. True, at the end of the day, profitability is all that matters but remember this, if you survive in the long run, profitability will be drawn to you automatically.
If you aim for profitability alone and you want it fast, that’s when impatience starts to kick in. This is then followed by greed. As a result, self destructive behaviour will start to take control.
Moral of the story: Patience is virtue.
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Disclaimer: This article is not a specific nor general advice on managing or investing your money. This article does not constitute a recommendation nor does it take into account your investment objectives, financial situation nor particular needs.
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