Its very important to understand that Every Moment in the Universe, and so in the market as well, is UNIQUE.
Every moment in the market is unique
Woohooo I hit a Winner
Notice that I did not put emphasis on your ability of hitting a single individual trade. Anyone can hit a winning trade once in a while. What makes you consistently successful is not your ability to hit a winning trade but it is your ability to consistently follow your trading plan.
The Ultimate Goal
The ultimate goal of a trade is not to hit a winning trade, or avoid the losing ones, but its is a psychologically challenging thing to achieve called Consistency. And consistency is not show in one day or two weeks. Consistency is shown for longer periods such as 3 to 6 months to start with. And consistency is an equation.
Consistency = Patience + Discipline.
When you see a pattern you might think ok here we go again, the pattern is there the next trade is going to be a winner. But what follows the pattern, the entry pattern lets say, is a unique outcome. everytime. The outcome of a trade that was preceded by a certain pattern we call the Entry Setup is a unique event. The entry setup and the outcome of the trade are unique events. You’ve got to understand this.
A Very Important Fact to Understand and Fully Apply
The probability of success is very high if you follow the system, but the probability of success per trade is never 100% it might be from 60% to 40% depending on what type of system you use.
What happens if you jump of Eiffel Tower?
You gotta understand this “Concept of Probability” as good as you understand that if you jump off Eiffel tower or Empire state building without a parachute two things will happen to you 100% guaranteed.
1. you know you will hit the ground.
2. you know that when you hit the ground there are 99.99% chances that you will die.
Trading can be stress free but not without understanding this concept
Without understanding this concept trading can be very stressful and a hard work because you will be “trying hard” to make money on each trade. You will be pushing “yourself” and trying very hard to make this next trade profitable. However the fact remains, no matter how strong you crunch your tummy muscles, no matter how hard you bang your desk, no matter how closely you watch the chart, you cannot turn your next trade into a winner with 100% surety.
Be a Casino and let the players play their game.
Enjoy your trading by “Believing in the system and that successful trading is a game of probabilities”.
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