Don’t Chase !!

What the heck does the NYC bus system have to do with day trading?  Think about it, is the best way to start your day waiting on the corner for the bus or running down the sidewalk trying to catch the bus?  I choose patiently waiting for the bus.  If you want to make it as a day trader you should opt for my choice. Here’s why…

Finding and trading the different opportunities that are presented each day is task number 1 in our job. It pays to be on time and ready to work without being all sweaty and out of breath from chasing the bus. Some trades you are on the corner waiting, the bus comes you hop on and like magic it’s a nice easy ride that gets you where you wanted to go. Many times however you see the bus leaving the corner and you decide to make a run for it. When this happens do you get upset? Sulk? Or continue chasing? None of them are choices that will help you survive in this job. So take a deep breath and think of the good ole NYC bus system …ANOTHER BUS IS COMING! You don’t have to stand on that corner long before another bus or trading opportunity comes. Opportunities are easier to make up rather than the losses that come from chasing, trading mad or frustrated. You are going to be late sometimes ..GET USED TO IT. It does not matter how long you do this job once in a while you’re going to be late. How you handle being late will determine how your day is.