Tuesday, April 15, 2008

Can Trading Be Taxing? 5 Things to Remember.

Everything in life can be taxing it you allow it to be and Trading is no exception. Let's look at a comment this FB 2.0 Blog received yesterday:

LiggerPig has left a new comment on your post "4.14.08 4.15 Settlement":

Not an easy day for any system and frustrating for discretionary traders too. Good luck with your blog. I hope to pop back regularly and learn more.

I had the chance to talk to several traders yesterday and this sentiment above was common (even the FB 2.0 did not even trigger a trade yesterday).

Frustration will always be there for traders if it is allowed to. All traders feel frustrated at times; it is how you deal with that frustration that is important.

5 Things to keep in mind during those frustrating times:

1. You don't have to make a trade everyday.

2. You don't have to make money everyday.

3. You don't have to be on the right side of the market everyday.

4. You don't have to be right on every trade everyday.

5. You don't have to let the above 4 points frustrate (tax) you everyday.

So relax, and don't be frustrated. Don't allow trading to become taxing.



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