Tuesday, March 23, 2004
So where do you go after you start the year with blowout losses? Back to your cave? Trade even bigger size to make up for it? Trade more often? Give it up and take up gardening? What exactly do you do? Hey, I sure don't have the answers. Trading is a tough game that you basically play with yourself. The markets go where they will with or without you. Nobody forces you to trade. It's all on you. That's why the highs are so high and the lows, well the lows are the exact opposite. There is nobody to blame except yourself. It's a look upon yourself is what it is. Nobody can expect to be right all the time. At some point you will figure out your strengths and your weaknesses. It's what you do about them that will determine your fate in this game. It's very hard not to take the losses personally. These, after all, are your own ideas that you're trading off of. You put in the time and the effort and you expect decent results. But this game is unlike others. It can be fast, it can be slow, it can be nowhere. The news can be the same, the market reaction can be different. It is a game that cannot be figured out. I suppose you take your best shot and see what happens. But you had better be aware of yourself. What you can and cannot do. Each trader is different, each trade is different. Enough of my mindless chatter. Will try to be back here tomorrow...
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