Accepting that trading is never certain is a difficult thing to do for those who are new to the practice. For many, the idea of trading means a guaranteed outcome every time, a sure fire way to make a nice bundle of money. But that’s just fantasy, as those who have been playing the markets for a while now will gladly tell you. The reality is that there is no certainty in trading, no way to ensure that you will win every time. And once you have accepted that truth, you will have a much better time of it when you do trade.
Okay, maybe not a killer in the literal sense (not when it comes to trading anyway), but being unsure can lead to problems because humans love to know what’s going to happen next. We can’t help it, it’s just in our nature. And because trading is never certain, that can lead to a bit of an upset on occasion, even to the point of giving up altogether – effectively killing any chances you may have had at getting good at this whole trading lark.
But understanding that this is just how it works and that trading is never certain – and accepting that fact – means you can concentrate on the trading itself, rather than the outcome. Sounds counter-intuitive? Try it and you’ll see that it works. You can really get into the trading aspect of things, and the more you do something, as we all know, the better you get at it, and those losses will become fewer. They won’t go away altogether (remember: trading is never certain) but you can reduce them dramatically with the right mindset and the right trading tools.
In most areas of our lives, uncertainty is there to be defeated. Not sure what the weather will do? Check the forecast and then make plans. Don’t know what career to take up? Research (sometimes a little, sometimes a lot) and pick something at a young age just so you’ve got it there to head towards. Want to know what the future holds? Consult a psychic.
Okay, wait a minute. Does any of that sound a little… unsure to you? Weather forecasts are notorious for being wrong, almost to the point where there is no point in checking them and just hoping for the best. Picking a career when you’re young and going for it no matter what can lead to a lot of unhappiness. And as for the psychic… well, the less said about that the better.
Life is meant to be uncertain. Things change on a breeze. One tiny decision can alter everything else that ever happens to you. So don’t sweat it. Just live, learn, and go for it. That’s the best advice you can ever get, as long as you follow it.
When it comes to traders, there are just about two times – ever – when they know exactly what they are doing, and what will happen. This is before they ever start trading (experience changes this mindset pretty quickly), and when they are using a demo account (mainly because it doesn’t matter so much and they are able to be a little freer with their plans).
It is this second mindset that you need to have when it comes to trading in general. Trading is never certain, so playing anyway and understanding that completely is the key to a happy and (hopefully) successful trading life and even career.