They could see the danger around them. They knew they were in trouble. They even knew that they needed to act, to do something. But they literally could not decide about what action they should take. In the absence of a decisive path of action, the river grabbed them by their lapels and like an angry pimp with bills to pay, slapped them senseless.
It did what it was supposed to do: move quickly and rapidly through a canyon in order to get to the ocean. The riders who understood the nature of the river were prepared and took the roller-coaster journey in stride.
The riders who fought this trend got thrashed. The similarities between this event and a typical trading day are nearly identical. The unprepared trader newbie is in the same situation as the unprepared white-water rafter.
In the event of extreme conditions, both will freeze, and both will be lucky to sur-vive the experience. One bad trade can wipe out months or years of profits.
That said, many traders never make the leap, and remain in this victim-like state all of their trading lives. The minority who endure and join the ranks of consistently winning traders are the ones who have learned the following truths:.
As a result, markets initiate major intraday and swing moves. John Carter has been a full-time trader since In , tired of talking to his goldfish while trading alone in his office, John launched TradetheMarkets. The company has since evolved into what is now, Simpler Trading. In addition to being an experienced trader, John is also a published author. LinkedIn Pinterest 3. John Benjamin Lynch.
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