A Bucket of TradesOct 1st, 2010 | By Bella | Category: Mike Bellafiore's (Bella's) Blogs
Let’s say I told you I wanted to improve my golf game. Specifically I wanted to get better at driving the ball. Currently I can drive the ball about 250 yards because I am no good And I continued that yesterday I worked very hard on game. I went to my local driving range, parked the Lexus (the car I probably would own if I lived in the suburbs), took out my Phil Mickelson Calloway Driver (obtained through a special contact of Dan Mirkin of Trade-Ideas), and hit ONE drive. Then I hit the clubhouse, ordered the cheeseburger special (they have this proprietary mayo sauce that is delicious) washed down with a Sam Adams Summer Ale in a chilled mug, packed up my clubs and headed home to catch Sportscenter. What would you think about my chances of getting better?
The challenge with trading is that often we get ONE opportunity to trade a particular trading set up per day. And then most pack up their things and head out. We set a goal to improve our breakout set ups. And then an eight hour work day gives us ONE breakout trade. How can we get better trading breakouts with such limited opportunity to work on this trade?
If you thought it absurd for me to get better at golf hitting ONE driver of practice, then what do you do each day with your trading that is analogous to hitting a bucket of drivers?
Author, One Good Trade