Keep in mind that you don’t have to trade. Many traders get in trouble because they feel like they always have to be active. This simply is not true. In fact, it can be detrimental to your overall performance.
One of my favorite quotes is from Jim Rogers, author of Adventure Capitalist, Investment Biker (very good read) and Hot Commodities. In his interview in Market Wizards he made the statement that he just waits until he sees a pile of money sitting in the corner and picks it up. This is a great lesson from an extremely successful trader/investor. Rogers doesn’t just make a trade or take on a position because he feels like he has to. He does it when his analysis tells him its the right thing to do. In other words, he lets his trade selection methodology tell him when to be active in the markets, which means sometimes he’s going to be out. That’s not a bad thing, though.