This is one of the trading quotes I frequently make use of at the end of my posts: ‘Great traders offer no excuses.’ Today Charles Kirk published an excellent post that shares the same core belief of the aforementioned quote. The key passage of his article ‘Focus on what matters’ is the following:
I have sufficient reason to believe that too many of you are focused on what has already happened instead of focusing on what is going to happen and more importantly how to profit from it.
As my main focus is on trading resource stocks, gold and silver I have long stopped counting the articles about manipulation and conspiracy theories I have come across over the years. I also got my fair share of incoming emails with questions regarding illegal short selling, manipulation, illegal suppression of gold and silver prices etc.
My answer has always been the same: I couldn’t care less. I prefer to spend my time and energy analyzing charts in order to identify trading opportunities I can profit from.
Conclusion:
Do everything you can to develop a professional trader’s mindset. Think independently. Watch the charts, listen to them and position accordingly. Repeat the process over and over. Always be willing to adapt to the changing personality of the markets. As lots of traders like to say: ‘Bend like a reed, don’t be obstinate and break like a twig.’ Above all, never ever offer excuses. Instead, learn from your mistakes, adapt and improve your trading and move on to the next level.
This is why the following quote is my all time favorite quote:
Everything you need to know is right there in front of you.
- Jesse Livermore
My public list with all my charts can be viewed here:
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2791469
Buenas noches!
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