So how does this relate to trading and markets? If you lose something you never had you should never let it get to you. This takes away mental capital that is hard to get back. Also, while in a position whatever it may be you are better off taking a step away from it especially if it is a winner. Why waist mental capital analyzing it and letting your mind play games if it is a winner thus far and you don't have anything to lose because you never had it to begin with. Be patient with winners and impatient with losers.
I am curious about when the above post was made: today, at 3:51pm? just prior to market close?
ReplyDeleteConsidering how the market "tanked" in late innings, I can only presume the blog author had already salvaged his long positions and was comfortably playing out an overnight or longer "short" ride to financial success. "Patient" with a short winner maybe?
Or maybe the author is just plain smart enough to stay out of the way of such short windowed trade worries. Either way, I admire the composure to post in the middle of short-term melt-down to offer perspective in times of uncertainty.
Best of luck with interview #6. If 6 goes well, maybe #7 will be the lucky number one for you!
Tim,
ReplyDeleteWere you commenting on this post http://theopeningrange.blogspot.com/2010/12/instant-10-return.html ?
On the 13th, yes the market sold off a little but not significantly. I have been trying not to get too flustered with day to day fluctuations.
Thanks for the wish of good luck too! And I greatly appreciate your comments.