Lincoln Alerts 4.11.12 ” You Can’t Win but You Sure Can Lose
My 5th straight +50% gaining short trade in April
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Those who follow racing series of any kind know there is a saying that goes ” You can’t win the championship in the first race but you can lose it”. Meaning, you are scored on how well you do over a span of races not one. Often times the winner of the most races ends up not winning the championship. There is a correlation to this saying with your career as a stock trader. Your success as a trader will never be measured on what you can do in one day but rather what you can do over hundreds of days. Only the consistent survive.
I bring this up because Tuesday was a day that was tailor made to obliterate amateurs and those who need a fix for action. You should never trade just because you feel you need to. Professional traders pick and choose the battles they feel they can win. If there is no legit chance of winning they simply wait until the right opportunity comes by.In fact the job of a successful trader is mundane and boring, wait countless hours for set ups, live in you pajamas, push a few buttons , make more cash than your neighbor who has a 9 to 5 and call it a day. That’s how it should be.