Be Cool

A successful trader is cool. Unruffled under pressure.

The world is spinning around him. Markets are plunging. Markets are blasting off.

You must have grace under pressure.

Markets appear chaotic.

Your job is to not get distracted by the sturm und drang of the market but to remain in your pod of peace.

Most people start to take the market personally when the market starts to move rapidly. They start to think about the effect on them. They think about the changes in equity they are experiencing. They then internalize that equity swing, whether good or bad.

Wrong.

That gets them emotionally involved and invested into the price of something. Can’t do that. Gotta remain cool.

Your emotions will oscillate wildly in tune with the price oscillations. How can you think clearly in that situation?

Instead, you have to keep cool.

You have to take a step back. You have to move your mind to a spot above your body and observe, not get into the mud of your emotions. Float above the market.

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