Seems like any trading idea that I have lately is proven wrong almost as soon as it crosses my mind. I need a longer break from T4L/blogging.
Have recently developed much admiration for someone like David Rosenberg who continues to put the same message out there day after day even as the markets have proven him wrong over a long period of time. Takes a lot of mental fortitude and conviction in oneself to be able to do that. For me, shutting up and laying low seems a much easier way out. Since T4L blogging, this is my first experience of a prolonged run of getting things wrong in open view of a public audience and the feeling is humbling and confidence shattering indeed, not to mention the pain of my own financial capital being concurrently depleted.
Do bear with me if T4L posts are few and far between while I try to recover.
3 comments:
T: I don't think you are alone - I have taking my biggest trading hits in the last 2 months.
Quote:
The American political journalist and author, Norman Cousins, is quoted as saying,
'Death is not the greatest loss in life. The greatest loss is what dies inside us while we live.'
Along similar lines, I would argue that loss of capital is not the greatest loss in trading. The greatest loss is what we lose from within.
Loss of funds is recoverable. Losses of self-esteem, self-belief, or passion for the process of trading, are not so easy to recover.
Fall seven times, stand up eight.
One thing about strategists is that I am not sure they put money where their mouth is. Thus it may be easier to maintain a wrong for long stance
True. But still a lot of mental and emotional capital expended in the process. I know for sure now that I am not able to keep saying the same thing in public after being proven wrong a few times in a row. This guy has been at it for months!
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