Today I’ve got two things for you.
1. Yesterday I emailed you about one of the catch-22’s of trading, one that you may have encountered
If you missed it, you can read it here on my blog
I also said that I’d share another common catch-22 which I’m almost sure you’ve run into.
It’s a rare trader that avoids this one
It’s absolutely mandatory that you stick to your rules in your system, or you’ll never enjoy consistent results.
But your system has let you down before, hasn’t it?
Then of course there are those times when the market turns on you yet again and it almost seems like there’s someone on the other side of your screen that is intent on sabotaging your trade.
The emotions of anxiety and fear and doubt can be tough to live with and certainly make staying disciplined extremely difficult.
Sticking to your rules requires a certain level of confidence, that for most traders, just isn’t there, at least not enough to make things easy.
So in order to have that rock-solid, unshakable (or at least sufficient) confidence to stick to your system, you’d have to experience a fair amount of success trading with it.
The catch is that it seems nearly impossible to stick to your system long enough to establish the confidence you need to stick to it.
That’s why, in my Trading System Mastery Accelerated Coaching program, I am such a big fan and proponent of manual backtesting – whether you believe in relying on the results or not.
Yes, it takes an investment of time, but that time spent backtesting is providing you with TWO HUGE benefits.
- You get useful insights into what’s going on during the trades that you just can’t get with automated backtesting
- You get PRACTICE with your system. Trading is a skill-based activity, and good practice is invaluable when it comes to performance and confidence.
If sticking to your system is currently one of your challenges, this is something you can do immediately to boost your confidence and make sticking to your rules MUCH easier.
As a result, you’re also likely to see dramatic improvements in your consistency while trading and your results
2. I recently ran across a video that I found inspiring that I wanted to share with you.
It addresses the matter of “Why” in a different manner from what is common, and I thought you’d enjoy it and benefit from it in your trading.
Enjoy!
Cheers
Brian McAboy
The Trading Business Coach
