You Need To Accept This Trading Truth If You Want To Survive

[analyst75 12]

 

A TRUTH ABOUT TRADING

A couple of things in life that I really don’t look forward to are:

1. when they draw blood for my semi-annual health checkup and
2. when I have to go to the doctor.

Yet, when I think about it, not going could be a lot worse than going. I don’t know which I would dislike more, finding out I have too high a cholesterol reading or finding out that my blood sugar is too high. Hopefully, I’ll never have to compare the two. Fortunately, I don’t suffer from either condition.
Regardless, as I was sitting in the doctor’s office one Monday morning, I realized that sometimes I am like the doctor in regard to the occupation of trading. Sometimes my being blunt about the things that need to be said is not well-liked by some traders. Much of the time there is a little pain involved in doing things the right way, because there is rarely such a thing as instant gratification when you are a trader. However, in the long run, you are far better off if you do things the right way.

As much as I hate going to the doctor, I know that if I take care of things now, even though I experience a little bit of pain, it will save a great deal more pain in the future.

For those who cannot see past the desire to always receive instant gratification from their trading efforts, I am not well received. For those who can see that the information and experience that I provide, although sometimes painful to realize, and even more painful to actually follow at first, will ultimately save them from a great deal of pain in the long run compared with how most traders actually fare.

Knowing this does not make it any easier to go to the doctor, because the immediate pain is the same whether I like it or not. However, knowing and understanding this enables me to go in spite of the small bit of pain that it may cause.
Each Spring I enjoy planting a garden. A garden requires work. Tending the plants while they grow requires even more work. Even harvesting the fruit of my garden requires work, but then comes the enjoyment. It is always in that order, which is the way God created it. It’s the same way with investing and trading.

No matter what your situation is right now, don’t compromise to receive instant gratification at the cost of a great harvest later on. I write from many years of experience and from making these kinds of mistakes in the past.

And that is a truth about trading.

Source: https://learn2.trade/you-need-to-accept-this-trading-truth-if-you-want-to-survive

[zdo 20]

Excellent post.

re "No matter what your situation is right now, don’t compromise to receive instant gratification at the cost of a great harvest later on. I write from many years of experience and from making these kinds of mistakes in the past." etc

Another way of saying it is in terms of game theory - to have any staying power, you have to keep on doing the right things over and over (and minimize doing the wrong things over and over) regardless of what 'chance' provides today, this trade, this campaign ( or like in poker - this hand, this table, this tournament... etc)

... and as an aside / :off topic: re: the doctoring, wellness, etc - trading performance over the long haul requires overall excellent health ... just sayin'

... and posting is expensive :)... just sayin'