So, like most days, I find myself here, staring at price grids waiting anxiously for a trigger to get into the market, and from some distant place, I faintly hear someone saying... no, yelling... 'It's GREEN moron.' I suddenly come to the realization that I am not sitting at my desk, looking at a sea of charts and indicators, but standing on the sidewalk, staring down at the crosswalk huddled amidst the mid-morning rush hour... simply waiting for the light to turn.
What's the name of this blog series? Oh yeah, OBSESSED. I think it fits nicely.
Seriously, you absolutely KNOW you need help when EVERY mundane aspect of your day literally BECOMES 'forex'ed'. I am so far gone I even hear a repeating jingle in my head, reminiscent of the old tootsie roll song;
"Whatever it is I think I see... becomes a forex indy to me"
Certifiable... I know… However, once that 'Forex Switch' gets turned on, it's hard to turn off. Mostly, on the face of it, life seems quite structured compared to FX. There are rules, and if you follow them, for the most part, it's pretty easy sailing. If you're crossing the street, you press a button, wait for a signal, and trot across those zebra lines without even a second thought. Heck, most people are so busy updating their status, so the rest of the world knows they are crossing the street, that they don't even look up to see if it truly is clear to pass. BUT... they still make it across.
The question then becomes WHY is it we cannot apply these same ideas to the market to make it as easy to be a profitable trader as it is to cross the street? I mean 'smart' guys have already invented a ton of 'signals,' everything from indicators to Japanese Candles to recognizable chart patterns, so what is the problem? Is it me, it is us? What then?
Here I remain, glaring intently at the street light, glancing back at the street, anxiously awaiting it to turn... KNOWING it is going to turn... looking again at the light... noticing there is no traffic in sight. I guess I can just go NOW, right? I mean, after all, I KNOW it is going to turn, and I can't see any cars coming.
The old, 'the market is going to turn at any moment, I am SURE of it, so no need to wait for the actual trigger. I KNOW I am right, and it is EVIDENT the market will agree with me.... any minute now.
Okay, yeah, got it, don't break the rules, stick to plan, etc. understood. How come then, even when I play by the rules, following them to a 't', the trade I take, the trade I waited ALL day to take, the one that had me stressing out for HOURS, STILL doesn’t turn out as expected.
This my friends is an important lesson... The market does what the market wants to do, it has no boss, and there is no market police force to give it a ticket when it decides to jaywalk right over your cute little trading plan.
The point to this story? I have never in my life heard of a person being hit by a street light while crossing a street. Even when it's green, make sure you ALWAYS mind the cars and not the streetlights.