My youngest wanted her own dog so we got a new puppy. Of course I am now the one who is taking care of the daily mess in the house.

But unlike my younger days when I used to fly off the handle at cleaning up after every accident, this time I am  much more Zen about the whole process. 

The dog has to get used to her new surroundings. She has to get used to the cacophony of noises and the symphony of smells  of my Upper West Side neighborhood and she has to grow physically mature before learning to hold her bladder. So while I wait for the puppy to grow more confident and capable I am perfectly ok with cleaning up the mess.

Meanwhile I am amused at the thought that puppy training and trading have so much in common. They are both exercises in patience, observation in and adjustment. A new trading strategy is often just like a new puppy - full of enthusiasm but little direction. You need to watch it patiently, clean up the mess over and over and over again and even when you finally have it working relatively well there will always be a few accidents ahead. 

I’ve read about how during the pandemic many people adopted dogs only to turn them in after realizing that life with an animal wasn’t all cuddles and kisses. I am pretty sure that most people fail at trading for the same reasons that some people fail at puppy training. 

No one wants to pick up the poop.

But picking up the poop is very much the essence of both activities. In trading  things go sideways all the time and just as with the animal in front of you - you can lose your temper, stomp and scream all you want and the market, just like your pet will not give a f- about your tantrum. It’s much better to clean up the mess quickly and move on.

As your dog and your trading strategy grow you’ll get to know both a lot better. You’ll understand their strengths and their weaknesses. You’ll anticipate their quirks and you will have far fewer accidents the longer you live with your animal and the longer you trade your strategy. But all of this of course requires time and effort and while dogs may require a few months of training, trading will often require years  of study.

The bottom line is this. If you don’t enjoy the whole process you shouldn’t waste your time. The joy of owning a dog doesn’t lie in  being able to take a perfect Insta picture, but in creating a lifelong bond of love with another living thing. The joy of trading doesn’t come from the “easy money wins” that many imagine it to be, but from the enormous satisfaction of playing the most complex game in the world against everyone else.

In the end, if you trade long enough you realize that the puppy is ...you.

 

Past performance is not indicative of future results. Trading forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial advisor if you have any doubts.

Education feed Join Telegram

Editors’ Picks

EUR/USD reflects market tension around 1.0870 ahead of German GDP, Fed vs. ECB battle

EUR/USD reflects market tension around 1.0870 ahead of German GDP, Fed vs. ECB battle

EUR/USD treads water around 1.0870-60 as markets remain on a dicey floor ahead of the key central bank meetings and data. Adding strength to the market’s indecision could be the return of China and fears of a softer growth number from Germany.

EUR/USD News

GBP/USD bulls and bears battle it out at the start of week ahead of central banks, Fed, BoE

GBP/USD bulls and bears battle it out at the start of week ahead of central banks, Fed, BoE

GBP/USD dropped on Friday due to the fears that the United Kingdom economy's slowdown may prompt the BoE that meets this week to slow down on its rate hike cycle sooner than originally thought. The Cable is trading at 1.2390 and has travelled between a low of 1.2372 and 1.2404 so far.

GBP/USD News

USD/JPY bulls attack 130.40 resistance confluence

USD/JPY bulls attack 130.40 resistance confluence

USD/JPY prints mild gains as buyers muster the courage to overcome the key 130.40 resistance confluence during early Monday morning, close to 130.10. The Yen pair defends the two-week rebound from the lowest levels since May 2022 while staying above a fortnight-old ascending trend line.

USD/JPY News

Editors’ Picks

AUD/USD extends recovery above 0.7100 despite caution stems in market mood

AUD/USD extends recovery above 0.7100 despite caution stems in market mood

The AUD/USD pair has accelerated to near 0.7115 after rebounding from below 0.7095 in the Asian session. The Aussie asset is scaling firmly higher despite the expression of caution in the market sentiment.

AUD/USD News

EUR/USD reflects market tension around 1.0870 ahead of German GDP, Fed vs. ECB battle

EUR/USD reflects market tension around 1.0870 ahead of German GDP, Fed vs. ECB battle

EUR/USD treads water around 1.0870-60 as markets remain on a dicey floor ahead of the key central bank meetings and data. Adding strength to the market’s indecision could be the return of China and fears of a softer growth number from Germany.

EUR/USD News

Gold senses hurdles around $1,930 as market mood sours, yields extend gains

Gold senses hurdles around $1,930 as market mood sours, yields extend gains

Gold price (XAU/USD) has sensed barricades while attempting to cross the critical resistance of $1,930.00 in the Asian session. The precious metal has witnessed selling interest as investors are turning risk averse in the interest rate policy week.

Gold News

Why Ethereum bears need to be cautious about shorting ETH before $2,000

Why Ethereum bears need to be cautious about shorting ETH before $2,000

Ethereum price has been consolidating after the January rally subsided after three weeks. This tightening continues even after BTC shot up 3% over the weekend. Therefore, a short-term spike in buying pressure should is likely. This move could propel ETH to tag immediate hurdles, liquidating early bears.

Read more

Big risk this week Fed hikes 50 points

Big risk this week Fed hikes 50 points

While the entire global investment community is apparently very excited about the US Federal Reserve slowing its rate increases to 25 point increments, there are strong reasons for arguing why another 50 point rate hike, or two, are still on the Fed menu.

Read more

RECOMMENDED LESSONS

7 Ways to Avoid Forex Scams

The forex industry is recently seeing more and more scams. Here are 7 ways to avoid losing your money in such scams: Forex scams are becoming frequent. Michael Greenberg reports on luxurious expenses, including a submarine bought from the money taken from forex traders. Here’s another report of a forex fraud. So, how can we avoid falling in such forex scams?

What Are the 10 Fatal Mistakes Traders Make

Trading is exciting. Trading is hard. Trading is extremely hard. Some say that it takes more than 10,000 hours to master. Others believe that trading is the way to quick riches. They might be both wrong. What is important to know that no matter how experienced you are, mistakes will be part of the trading process.

Strategy

Money Management

Psychology