This journal ain't so much limited to trading but trading ideas in general. To complement my ever evolving thoughts about trading, I'm calling it apropos another nameless trader's ramblings. It recently occured to me that ignorance is usually considered blissful when you're either brazenly greedy or suspiciously fearful, but such a bliss faces a rude awakening should greed and fear decide to dance to the same tune.
As creatures of habit, we traders like to stick to what we already know even though it might cost us dearly. Unmistakably, such a turn of event took place on Thursday when this noob exercised the inflamed rhetoric of old-fashinoned tart that we finally hit "the bottom". (Especially when Jim Cramer speaks doom and gloom, why shouldn't I?) Perhaps, present is indeed a thing of the past. But I wonder why traders constantly look back into the past for guidance into the future? So much for my rants!
I'm salivating already! Jokes aside, everybody looks at the past to find some clues about the future. History repeats itself, but of course it doesn't repeat itself exactly as before. What would be the meaning of life, then?
Lost somewhere in translation is also the fact that the market is governed by greed and fear. May you look behind them to embrace your inner monetary Tao.