Trader Quote # 30Posted: May 29, 2013
Trader Quote # 30
“More men have become great through practice than by nature.”– Democritus (460 BC – 370 BC)
==== This ancient saying is still a very valid one today for traders. I choose this quote as a reminder to all the traders who have been in this business for a long time. As experienced participants of the markets I have noticed that ‘practice’ becomes a less important priority as time passes by. It could be very natural to think that ‘to practice’ is something necesarry in the early stages of a trader and as we become more expierenced we can think that this rutine could have less importance.
Practice or as I like to call ‘simulation’ should be a constant routine of a trader during all the stages of their career. Many traders fall into the ‘trap’ of using their live accounts as practice mechanism. Our live account should only be used with our most tested strategies and tools. On the side lines we should continue to practice with demo account and test new ideas, setups, strategies. Currently, I trade my live accounts and have 5 demo accounts running for different simulations purposes. This has been very helpfull for my overall business.
Remember to never underestimate the importance of practicing even if you have been doing this for a very long time. Best of luck in your trading & always use stops! Dimitri Feria ====