facebook  youtube  blogger

Trading Educators Blog

#1 Trading Blog Site

Paying The Price

You pay a price for every profit you take with time and effort required to obtain it. Not to mention the years of experience upon which your knowledge and methodology have been constructed. The slippage, and getting knocked out of a winning trade by one tick, cause a cumulative mental attrition that can be offset only by constant profits, vacations, and other interests not market-related.

Time is the most valuable commodity in every person's life, because each person knows he only has so much of it. To use time wisely creates more of it. To use money wisely creates more of it. It is ironic that man is the only life form that knows he is going to die, and the only life form that laughs. There is probably some profound message related to trading in this irony.

One of the most frustrating experiences in trading is knowing what to do, how to do it, and when to do it, and not being able to execute. This is why it is so important to have a decent broker with good executions, even if you have to pay a little more to obtain it.

A bad fill hurts you a lot more than does a higher commission. If you get slipped a tick in and a tick out, you will have paid a lot more than a commission. But the most frustrating thing is not being able to get the job done when you know how to do it. This has been a plague on trading from before I began to trade. It is always a problem to a greater or lesser extent.



Sign up for our FREE weekly Chart Scan newsletter.

Master Trader Joe Ross wants you to learn trading and he created products to do just that, teach you how to trade. Click here to find which ones best fit your trading style. Learn the art of trading Joe Ross' way!

Related Posts

 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Thursday, 25 April 2024

Derivative transactions, including futures, are complex and carry a high degree of risk. They are intended for sophisticated investors and are not suitable for everyone. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results, and all of which can adversely affect actual trading results. For more information, see the Risk Disclosure Statement for Futures and Options.