Now that we have had a good bit of pain the question becomes, what do we do now? If you are reading this today, chances are you haven’t yet thrown in the towel and while you may have experienced a few lumps, I am hoping that you are still in a position to recover and move forward.
Should you be fortunate enough to participate with the financial markets day in and day out, there will inevitably be times when the daily grind will wear on you and a refresher will be in order. There are enough variables at play that a trader must contend with that being burned out should not be added to the equation if at all possible.
On a day like today, I struggle a when I look at the broad averages. I try hard not to look at them, but they are unfortunately pasted just about everywhere I look. The struggle lies in exactly what I wrote about this morning; that burning desire to want to be ‘in action.’
A few weeks ago I wrote a piece on ‘Navigating the Noise’ and as I was traveling last night, I once again realized just how important understanding this concept is. If you are a trader, beyond the point of just starting out, chances are you have a pretty specific set of rules that you adhere to that at least act as a guide as you follow your trading path. For those of you who don’t abide by a set of rules, this we will discuss further and will be spending quite a bit of time on in TickerVille U. in the coming months but that is for a different time.