Having a relationship with the Market!
The other day we spoke in class about the importance of having a relationship with the markets…. No JOKE! What do I mean by this? Well it’s like any type of relationship, if you ignore the work you must put in then the outcome with either be negative on unknown. The same thing applies the markets. You have to spend quality time with the charts, looking and reviewing and listening to what the charts have to tell you. The market wants to be your friend BUT it demands respect and if you don’t give it the respect it deserves it will teach you a lesson. To be successful in trading you have to come to understand this because if you don’t, there is no chance for you in succeeding. Most traders NEVER put in the time to create a strong relationship with the markets and instead employ the use of technology to make trading decisions on their behalf. What does this tell you!?
It will take time to get very close to the markets so that the day will come when you place trades and are no longer nervous holding those trades because when you have done what is required of you and you treat the market with respect, the markets will tell you when to get in and when to get out, YOU JUST NEED TO LISTEN! When you make profits this way it comes as if by magic. It will seem to flow into your account without much effort and this is how trading SHOULD be!
It will take time, you will need to work on your ego, in fact, relationship books will help you in learning good behaviours to take on in your efforts and then your personal life will be rewarded as well. It’s a win/win solution. Go ahead, try it for yourself, be close with it, nurture it, work on it and eventually you too will have your own relationship with the markets!