What exactly is precision?
Whenever I think of the word precision I think of calibration tools, sophisticated equipment, submarines and other highly technical stuff.
But in reality, precision is simply being precise.
Before I started day trading everything to we fell in the ballpark. And maybe for some things being in the general vicinity or in the area works, but in reality, it works poorly for everything.
Like when you say you want to put your kids to bed and it’s at 9 pm, somehow you get conned into the ballpark of 9 which is usually around 9:30 and that’s when you hit the tipping point of where fun turns to total crankiness and whiny because the kids have passed their point of being kind of tired to over tired.
At the moment you think it’s a good idea because they are laughing and playing and begging you, and you agree, because – well – it’s in the ballpark.
Trading is easy to be in the ballpark, but the probability of that happening is a losing trade.
You need to be ultra clear, with laser focus what your entries are. That your indications are sticking to the rules, even one tiny bit off can result in a losing trade.
This is even more so when you are a scalper, going for the smaller profits, which means smaller risk levels. You have a higher chance of being stopped out only because you were saying to yourself, well it’s almost there.
Here’s a challenge for you – Try being super precise with different things in your life like putting the kids to bed. Arriving for a meeting at the precise time you have to.
Notice the alignment it allows you to feel inside.
Because, let’s face it, when we are not precise, we feel it on the inside, and in turn it makes us stressed out and then when things go the wrong way, we don’t get angry at the thing, but instead at ourselves.
And why do we need to beat ourselves up?
Related Read: A Day in the Life of a Trader
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