Why do traders feel powerless?
Because it takes personal responsibility away from you the trader and transfers it to market gods, market makers, algos and quants, big banks, hedge funds or whatever else is conspiring against you.
I mean, how in the world can you contend with these powerful forces. You are powerless against these goliaths. That powerlessness gives you an out, an excuse.
“It ain’t me, it’s them.”
Oh, but it is you.
You have the power.
Power through the many things you control.
You control just about everything related to your trade. From trading style, broker, time frames, risk, stop, target, position size, time of day, down to your trading tools and the chair you sit on, you control just about everything.
The only thing you don’t control is the stock’s movement from point A to point B. But that’s just a small part of trading.
Yet it’s the only thing you focus on.
Because, if you focused on everything else, you would have to take personal responsibility for the trade.
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