Happy Saturday!
Right now, I’m with my daughter Vivian at a sailing regatta in Dallas.
This regatta is important because it’s a “qualifier” for the 2022 CHUBB Junior National Championship:
The top 2 boats are invited to attend the National Championship.
Vivian and her skipper James have been training for it for weeks.
And we already arrived yesterday to be ready for this weekend.
It’s a big deal!
So this morning, we woke up at 7:00, got to the yacht club, ready to race…
… and there was absolutely no wind!
It’s hot.
It’s 100F.
And there’s 2 knots of wind.
Unbelievable
Needless to say that there’s no racing in this wind.
Nothing we can do but wait for better wind.
But here’s the deal:
NOBODY is complaining.
The kids are hanging out with their friends, socializing, playing cards, and patiently wait.
Because they know:
There’s nothing they can do
In order to sail a great regatta, two conditions need to be met:
- YOU have to be ready – and the kids are.
- The WEATHER needs to cooperate.
The same is true in trading.
In order to succeed in trading,
- YOU need to be ready and
- THE MARKETS need to be ready.
You can’t change the markets
But you can work on YOUR skills to become the best trader you can be.
Some examples:
- Take another look at your trading plan.
(you do have a trading plan, DO YOU?) - Make a “plan of attack” for next week:
What will you do with your positions if the markets move higher? What if they move lower? What will you do on Tuesday (Monday is a holiday in the US and markets are closed) - Review your trading routine
Is there something you can change in your routine?
Some more pre-market prep?
Some improvements when placing trades? - Take a look at your trading log
What’s working?
What isn’t?
What trades are your most successful ones?
What can you learn from your losing trades?
How can you adjust your trading plan – if needed?
There’s a lot you CAN do
to get ready for the markets.
Vivian and James are training for weeks to get ready for a regatta. They can’t change the wind. But they can work on becoming the best sailors they can be.
Alright, seems that the wind is picking up and we might go out on the lake and race!
Wish us luck!
– Markus
PS: Another way to get ready for the markets is getting familiar with your trading tools. If you already have PowerX Optimizer, make sure to watch the training videos so that you know how to use it efficiently.
And if you don’t have PowerX Optimizer yet, check it our here:
https://PowerXOptimizer.com
This weekend is a long 3-day weekend, so you can use the time to get the tool, learn all about it and then start using it next week in your trading!