Be clear about your goal but be flexible about the process of achieving it. (Brian Tracy)
It
can be challenging to change our way of thinking. Naturally, we form
opinions about people, events and expectations and move forward based on
our own logical answers. But, what if we are wrong? Is that
defeating? Are we too set in our ways to make changes, stuck in the mud
and unable to do what is necessary? What if the road is blocked on the
way to your destination - do you sit there and stare at it or move? How
about Eli Manning reading a defense. If he sees something 'odd' he may
call an audible. To help our bodies become more flexible we may go to
the gym for some classes or just even stretch. The ability to
change and do something different when the obstacles are too much to
overcome is not a sign of defeat, rather a sign of strength, having the
power and willingness to make the adjustments to get ahead.
NOT GETTING MY TRADE IDEAS? TIME TO SIGN UP! SENSATIONAL RESULTS SO FAR IN 2012! HERE YOU GO!
Stay committed to your decisions, but stay flexible in your approach. (Tom Robbins)
Trading requires flexibility and nimbleness. Have a bad trade result? Happens too often, doesn't it? How do you handle it? How
about an unfortunate circumstance where you thought you had checked
your risk but some 'outlier' hits your P/L hard. How do you make the
adjustments to make this work for you? I have been in many painful
situations, as have you. On Jim Cramer's Mad Money program Friday
he stresses some important lessons learned over the years at his hedge
fund and prior. I enjoyed the show immensely, I highly recommend this
one to you. He learned to be flexible, admit when he was wrong but NOT
defeated and to change the shape of his thoughts to be more
accommodating to the occasional surprises. This change seems to have
served him well.
Be firm on principle but flexible on method. (Zig Ziglar)
As a trader I use some simple methods
of technicals and charts to enter/exit my trades. I have survived and
thrived for years using the tools in my toolbox, but it's far from the
best. You've heard me say many times that trading is not a game of
perfect, and it is so true. What allows me to continue on in the
trade, grow and survive is my ability to change and admit when wrong. Success
requires discipline, flexibility but also humility. A big ego is
destructive to your mind and your bottom line. Marry yourself to one
way of thinking and you'll eventually find yourself on the short end of
the stick.
That which yields is not always weak. (Jacqueline Cary, from Kushiel's Dart)
