I think sometimes we become a little too focused on what OUR time frame is. Sometimes, the market will run and its best to just sit tight. I had an OLD GUY mentor who used to say.."sometimes, you need to just get up and walk away from the screen". This is, obviously, when the trade is going in your favor.
I swear, sometimes I think Wifey has balls... Offcourse women have balls too. But those balls are part of the top not bottom.
MMMM... HOW TO MAKE MONEY? DON'T THINK ABOUT MAKING MONEY, THINK ABOUT MAKING A GOOD TRADE, AND THE $$$$ WILL FOLLOW
very true. reminds me of Elder's story about teaching his daughter(?) to play chess. she got really good at it but once they started playing for money (it was just pennies, literally), she started losing. when money is the primary focus that means trading is secondary at best. another story that comes to mind is in ROASO when he talks about guys trading for a fur coat ... good stuff. what's funny is in a lot of other professions, money isn't the primary focus WHILE you work. it may be WHY you are there, but once you get there you do your thing, put in your time, and go home. you know the money will be there. again, this is most professions. obviously commissions based careers are exceptions. anyway, money follows trading. or maybe i should say trading leads money. take care - omni
i believe there is money to be taken but people don't for some reason or anohter. pigs get slaughtered but sometimes it takes courage to be a pig.
this is in reference to richard dennis. i think most people can be taught to be good traders by discipline. but only a handful will ever become paul tudor jones.
bingo. definitely a different slant than the first version... and likely true. or at least, it is if you make one more mod... "to make size in this market, in a time period shorter than years...." i have ended up with a split account and split personality I have 75% in swing-trades in energies and PM's coming off the bottom 4 wks ago.... i.e. fairly conservative profile....and 25% in 1-2 day trades of high potential, and risk. So half my brain is running the conservative trades while the other half is gunning for the big one....it's very confusing... ...but working well...