Arrogance can be a really deadly thing for traders.
This happens all the time, to all of us: we get in a groove, we’re going steady, we’re raking in money, and then: bam, we do something stupid.
Why? Because we trick ourselves into thinking we’re in control.
“This strategy is killing it,” we think. “Why not push my stops just a little farther out?”
Then the next thing you know, the market bucks, and you’re desperate to make back the money you lost on your stupid, unnecessary gamble.
You’re Not in Control
Just remember: you’re not in control of the markets.
I can’t think of anything sillier than thinking we’re at the wheel of the markets.
There are literal billionaires that can’t tell the market what they want it to do. Warren Buffett loses money all the time. Do you really think you’re in charge?
Insert Batman quote here:
Sometimes, you need to step back and reconsider who’s running things. This can be true when you’re losing. This can be especially true when you’re winning.
Our strategies help guide us through a market that isn’t ours to control. Never forget that, and you’ll do well.
The markets are at the wheel.
