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You have a job. You are required to be in the office at 8:30AM and work until 5:30PM. Do you show up at 8:30AM every day or earlier? Of course, I hear you say. Why do you? Why do you show up every morning? Because you have made an agreement with your employer to do a certain job and get paid a certain amount in return. You can also say you have an agreement with your family to draw an income. So you are showing up at work to honour this commitment. It is not something you debate, argue, discuss or negotiate. You Just Do It.
You have a new born baby. He is crying and it is 3 o’clock in the morning. You work out what the crying is about. You change the nappies, you feed him, you comfort him, sing lullabies, read a story. Why? Because you have a duty, an obligation, a parental commitment to your baby. It is not something you debate, argue, discuss or negotiate. You may be tired, sleepy, hungry, angry, disappointed, sad or happy. Nevertheless, You Just Do It.
There are ethics, conventions, traditions, rules, regulations and laws that you follow. They are for the smooth running of our family, community, society and country. You agree to go along and follow them. There are consequences if you don’t, some small some not so small. So you Just Do It.
You are a trader, and there are things you need to do on a regular basis:
- Examine the ever changing markets
- Maintain your charts
- Analyse them
- Apply your tools and techniques
- Notice if an entry and exit signal is generated
- Follow your signals and enter or exit trades.
- Follow your rules on position sizing (how many shares, CFDs or contracts you trade).
If you are at the earlier stages of your trading career there are books and courses you need to study, seminars and workshops you have to attend, broker accounts you need to open, money to deposit in those accounts, and channels of communication you need to establish with your broker (email, web, phone). Do you Just Do It?
A large proportion of traders do not do it. They have their excuses and reasons: Jobs, family, time, energy levels, level of interest, amount of work, overwhelm, not enough tools, not enough support – and the list goes on. None of these excuses would stop you from honouring your commitments to your job, your baby or society. But when you are answerable to yourself, then you feel you can get away with it. This also applies to those who are self employed - not just in trading. Being disciplined enough to apply the same stringent rules and commitments to yourself is harder.
Is that why a large portion of traders don’t make it? It is worth thinking about. You know what to do. Will you Just Do It?
Believe, achieve!
Sinan Koray
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