'Does anyone smoke' -- Only 1 person raised their hand.
This was the first question my trading boss told our group.
He then went on to say
'Don't worry, by the end of the year, half of you guys will pick up smoking.. THAT'S the market for you'
No kidding!!, 3 months later.. I'm considering it..
Why?
The market is a bully.
The market does not care what race you are, what buying power you have, if your the nicest person in the world, he will beat you to the ground...
It is your responsibility to put up a fight. IMO, the best way to fight is to RUN. As a young kid, I hated standing up for myself.. why? because I could get hurt.. and I'm a very sensitive guy
Ok so call me a wuss, but it's not being a wuss if you just decide to not trade. The market cannot bully you if your flat.
You essentially have two options when the market is going against you.
Run, and leave the FIGHT with a couple of bruises and your bank account will be moderately damanged
OR
Fight, and potentially leave the fight with two black eyes and a broken leg, and a depleted bank acconut since you'll have to pay for surgery.
Fighting the market is: Averaging Down, Being Overly/Positioned Biased in one direction for no real apparent reason (when your short.. most of us are soo certain that the market is going to drop), and when the market is just not going your way--just leave the trade.
I decided to post this early... I have an exam this weekend so I have to prepare for that!
Good luck and see you all on Monday with Lesson #5.
