Humility: We are in a business with change.
Most of us remember the Michael Jordan “Failure” commercial. It is 30 seconds of pure wisdom for life and for trading. As the market continues its twists and turns and while many churn and burn their trading accounts, now might just be a good time to revisit the basketball legend and the commercial that explains his remarkable success…and can explain ours too!
Do you know your Art of Trading Do you have a trading plan Do you think in terms of probabilities Do you know which time frame fits your psychology Do you cut your losses Do you define your Risk Do you add to your losing Position Do you over trade Do you let your profit run Do you keep a record and review them Do you add to your winners Do you use mutliple time frames Do you know your profit objective Do you second guess your winners Do you know the limits of your analysis Do you trend with the trend Do you have effective money management Do you know your Ratios Do you know when to take break Do you Trade the News Do you take others idea to affect your trading decisions Do you Withdraw Equity Regularly Are you a Contrarian Do you know all Markets Are Bearish