BarroMetrics Views: The ANTS Philosophy
Jim Rohn recently wrote about the ANTS Philosophy. The tenets
- Ants Never Quit
- Ants Think Winter All Summer. Ants gather food in the middle of Summer for Winter
- Ants Think Summer All Winter. Ants think: “This won’t last long – we’ll soon be out of here”
- Ants will gather as much as they can during summer for winter.
I thought: “This is as good a philosophy as any for traders”.
Newbie traders focus on acquiring the skills and commit to their own success. Quitting ought not to be in their lexicon. That said, traders ought to prepare appropriately for their losses, especially when they are on a winning streak – for this too shall pass. By the same token, when in a drawdown mode, traders maintain their discipline, do what they can to change the results and accept the results of their trades. Finally traders reinvest as much of their profits as possible so they allow the magic of compounding to grow their account.