DPR Action: No Changes, nothing to do
I was listening to a talk by Dan Pena that was recorded some time ago. In relation to the quote today, he was illustrating the fact that he believes that success for him came about as he developed an exceptional emotional bank account long before his financial account showed similar strength. In fact, he states that people that go through periods of extreme stress and learn how to deal with that stress the best are able to succeed at a very high level. To quote: “…you will run low on your emotional bank account long before you run out of money”
Bottom line, we all know that success does not come easy, it’s hard, trading is hard. Trading tests our emotional bank account long before it even shows up in our broker accounts.
So the key for me is be vigilant of my emotions. I must focus on the execution of the system and put aside my fears and emotional gyrations. The truth is they are not life threatening, and will be forgotten in a few days, good or bad. The system is proven, it wins over time, so focus on the execution only, no matter the outcome day to day, week to week or even month to month. I stop short of year to year, as that should be the barometer for any system at the least.
So I felt that I should share this little thought for the day as it relates to trading.
Little movement in the market today as the first quarter comes to a close. The market has shown remarkable resilience given the stand off in Washington recently. There was also some economic reports today but nothing that is particularly market moving in terms of importance. So I close out this week in positive territory for the trade I am in. Long may it continue.
Bring on the bulls!