How do successful traders deal with the uncertainty of the market?

In my opinion, the answer to that is....

THEY DEAL. THEY JUST DO IT.

In fact, they do it ALL THE TIME because in trading, NOTHING is certain.

I am not a fan of technical analysis because I think it gives a false sense of security. It leads to the faulty thinking that you can actually PREDICT what will happen.

T/A helps highlight patterns in price behavior based on past activity. It shows you what MIGHT happen (or, then again, it MIGHT NOT).

So how do I deal with uncertainty? I dont kid myself into thinking that anything is certain.

Where will the EUR/USD be today? tomorrow? in a week? in a month? in a year?

I have NO IDEA.

And frankly I dont care. It doesnt matter to me.

I have a book that's on my list for reading just as soon as I finish the current Mark Douglas book. It is called Fooled By Randomness and I expect that it will expand on my current belief that mostly everything that happens in the short-term is random and unpredictable. Many traders perceive randomness as patterns, and confuse luck with skill.

Today my trade is down. Yesterday it was up.

I have stopped being amazed every time a news report comes out, and instead of "the market" reacting in a predicted manner, everything goes haywire. I have stopped listening when the commentators on CNBC say "profit-taking" to explain ... well, ANYTHING.

I dont know and neither do they.

But that's the thing. I dont HAVE to know, in order to be a successful trader.

Every morning I walk into my office and turn on my computer and I think, I wonder where the market is now. I wonder where my trade is. Am I in profit or drawdown? Do I need to close my trade or just wait?

I dont stress about it and I dont spend my away-time thinking about it.

It is what it is.

Today will be one way, tomorrow will be different. Or not, it might be just the same as today.

Uncertainty is just the way it is.

Mark Douglas said that once you accept and truly believe that ANYTHING can happen and that you DO NOT KNOW what will happen....

when you make that mental adjustment a foundation, a cornerstone of your trading belief system, then you have taken one great leap forward on the path to being a successful trader.


I can't stress enough how important it is to find this acceptance in yourself.

Email me, IM me, if you want to discuss this further.