I remembered spending a day babysitting my baby son at a Buddhist Monastery while waiting for my wife. It was too damn hot inside so I tried to get some air conditioning in my car and ended up hitting his head on the horning part of the steering wheel. I told myself to get him back inside the monastery before I kill him in trying to make things better. Don't make funny move when he is perfectly safe undisturbed... I thought that's kinda like trading.
"It is circumstance and proper timing that give an action its character and make it either good or bad." ~ Agesilaus II (444-360 BC) King of Sparta, noted general from Plutarch, Lives, Agesilaus, 36
Two things that have helped me tremendously... Picture your most annoying friend (especially if you have one that is always right) standing over your shoulder asking you constantly (why did you do that? why did you do that? why did you do that?). If you don't have an answer for this person, there's a good chance emotions are dictating that move. Secondly, if I'm trading stocks I usually watch the options level two help clear out the noise. Options level two has a ton of useful information in it, and because it usually ticks in 5 cent increments they act like a longer-time frame chart, but you can also see which way they are leaning towards. just another 2 cents. - The New Guy
I am so glad that majorly macro level of mediocracy is hovering solidly over all markets for all forseeable time. It is so beautiful to see it there selfishly speaking. Now the bad bad news. The first weekend of June in NYC Pete Peterson had a bunch of past members of the EOP economic councils (council of economic advisers) for an informal get to gether to begin to draft an alternative to the present economic policy (idealist bent). I got to chat with an attendee on the way from chicago by sleeper to NYC. A got off at albany and we stood in the rensselaer station while they split the train to boston and NYC...... The whole economic environment is definitely on the ropes. My stints at EOP always had the holistic themes running and weekly "by the numbers" were manditory as to climate. I do not know how any macros (for financial industry operators)would be even possible today. But I do know everyone is deeply on edge all over the place because of the "new territory" and no "numbers running" going on at EOP. You can see mortgages running against the tide of Greenie, etc. "new territory" for sure. The global adjustmens were never made anywhere along the line either. I think it is hot stuff that an alternative planning effort is in the works with this crew of past performers. Peterson is a tireless master as well. thank god for email...lol... I stay in touch.