SHaq's blog

If you want to be a successful trader, you must make sure you do not deny reality in any phase of your trading. You cannot deny losses, price direction, mistakes you make, being undercapitalized, or a whole host of things you would rather not think about.

Many traders think the best way to deal with unpleasant ideas, events, or personal character flaws is to shut their eyes and pretend they don’t exist.

Let’s face it, trading can be difficult, at times very difficult and it's essential that you focus on reality. Denial takes your focus away from the very thing you need to be concentrating on—the action of prices—regardless of time frame. Your mind must be clear so that you can look at the market and see what is really there.

12 Ways

1. Put their interests first, always. Do you enjoy drinking or smoking? Guess what — it’s not good for them, and you’re setting an example with everything you do. I quit smoking about 18 months ago not for my sake, but for my kids. Now, it is still important to take care of yourself (otherwise you can’t take care of them), but you should still have them in mind.

2. Protect them. As a dad, one of your main roles is protector. There are many ways you need to do this. Safety is one: child-proof your home, teach them good safety habits, set a good example by using your seatbelt, make sure they use a car seat if below a certain age & weight, etc. But financial protection is also important: have life insurance, car insurance, an emergency fund, a will.