Humble yourself or the markets willAs a trader, you must approach the market with humility and an understanding that you are at its mercy.
And so you need to remember that the market, doesn't know you, doesn't care about you, and doesn't work to reward you.
Let’s break that down.
The Market Doesn't Know You
The financial market (Mr. Market) is a complex and dynamic system that is influenced by a multitude of factors.
These factors are beyond our control and are pretty much impossible to predict.
As a trader, you need to remember that the market doesn't know you, isn’t out to get you and that your success or failure is not a personal reflection of your worth.
The Market Doesn't Care About You
It can be tempting to think that the market is out to get us and that every loss is a direct result of our own mistakes.
However, the market doesn't care about us as individual.
They don’t have some personal vendetta against us.
Every trade is simply a result of supply and demand dynamics along with risk, reward and probabilities.
We must accept that sometimes the market will work against us, no matter how skilled or experienced we are.
The Market Doesn't Work to Reward You
There is such high competition with trading.
This environment is very high-pressured.
It sometimes feels like we are in some race to make as much money as possible.
However, it is important to remember that the market doesn't work to reward us.
As a trader, you must be humble and understand that success in the markets takes time, patience, and you must be willing to learn from your mistakes.
Also need to approach each and every trade with a level-headed and open-minded perspective.
Focus on this, and you you’ll make which will help us to make better decisions and increase our chances of success.
