May the Fourth Be With You - And your Stop losses!

Star Wars has been around since 1977 which was written and directed by George Lucas.

During that time, there have been phenomenal quotes, lessons and adventures that have been shared.

Instead of telling you different lessons Star Wars can teach you about trading.

How about I share some quotes and how you can apply them?

Here are the ones I find are the most applicable.

#1: "I find your lack of faith disturbing."
Use this as a reminder to stay confident in your trades, even when the market is unpredictable. Have faith in your strategy. Have faith in your commitment. Have faith in your strong mindset.

#2: "Your focus determines your reality."
Stay focused on your trading goals and strategy. It’s not about what others see. It’s not about what others feel. It’s about you in your own work station, planning, preparing and executing accordingly.

#3: "Do or do not, there is no try."
Commit fully to your trades, rather than hesitating or second-guessing. When it’s lined up, ACTION.
When you see a trade setups, write them down and prepare for execution. Don’t try… DO!

#4: "Fear is the path to the dark side."
Stay level-headed and not let fear or panic drive your trading decisions. Fear doesn’t exist. Only danger does. We are fearful most times in our head when there is no apparent danger. Remember this when you feel fear.

#5: "In my experience, there's no such thing as luck."
Successful trading is based on skill, probabilities and strategy, not luck.

#"6: The Force will be with you, always."
Here’s a reminder that your skills and strategy will guide you through both good and bad trading times. In this case the force is your proven strategy, your will, your commitment and your strong mind.

#7: "You must unlearn what you have learned."
Be open-minded and flexible when it comes to adapting your trading strategy. We learn as sheeple to buy low sell high. While I have gone against the idea and instead BUY HIGH, SELL HIGHER.

Also, when everyone buys, is normally where the Smart Money offloads theirs. And when retail dumb money sells, that’s where Smart money BUYS.

Did you find these useful?

Which one resonated the most with you?