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Live in the moment so you’re aware of opportunities when they happen…

That’s where a lot of people trip up.  Many people live life focusing on what happened to them in the past.  Others are thinking about what might happen in the future.  Either way, they’re missing opportunities staring them in the face right now!

How do I know this?  Because I’ve done the same thing.  I think most of us have done it at some point in our lives.  Thankfully I was able to recognize it and change my ways.  Now I look forward to every day by living in the moment and being open to everything that comes my way.

Take time to reflect on goals you wanted to achieve this past year.

Did you take advantage of every opportunity to meet your goal?  If not, ask yourself why…

Did something else take priority?  Were you scared to make a change?  Keep track of the excuses you make…

Taking time to reflect is important in living life to its fullest.  If you don’t know where you stand, how do you know where you’re going?  Take an honest look.  It’s a good way to achieve your goals this coming year.

I go through the same process on a regular basis.  I reflect back and look at the opportunities presented to me.  Did I take advantage of them or did I let them slip by the way side?

What does this have to do with trading?  Everything…

A major step to trading success is realizing that at any given moment there’s opportunity.  There’s opportunity to buy and opportunity to sell.  One of your jobs as a trader is to make yourself aware of these opportunities.  More importantly, you have to be open to taking advantage of them!

Let’s look back at some trading opportunities presented in 2009…


This is the Market Vectors Gold Miners ETF (GDX).  It’s an ETF holding a basket of gold mining stocks including Barrick Gold (ABX), GoldCorp (GG), and Newmont Mining (NEM).  Each time GDX came back to test the up sloping trend line (blue circles), it was an opportunity to buy.

I pointed this trade out to you back in September.  You can find the article here (Using Support To Time The Market).

You had the opportunity to sell GDX each time it tested the upper (red) resistance line.  As you can see, the trade keeps working over and over again.  There was a lot of money to be made trading this trend.  Of course, at some point the market will change and this edge will disappear.

But that’s how trading works.  You keep taking advantage of an edge until it doesn’t work anymore.

If you didn’t take advantage of this trading opportunity, ask yourself why…

Were you thinking of a similar trade in the past where you lost money?  Were you thinking of what might happen in the future?  The bottom line is you weren’t open to all the opportunities of the current moment.

Clearly, trading and life can be very similar.  By reflecting back, you can help yourself make better decisions going forward.

Not being open to opportunities can hold you back in trading and in life.  Either you miss them all together or you’re afraid to take advantage of them.  Get on the right track by staying in the moment and taking advantage of opportunities!  
 

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