Ladies and gentlemen, and I give you this message with the utmost respect and gratitude — QUIT BEING SUCH PUSSIES. There are times in the market when I’ve dogged my account down and felt as if nothing could salvage my poor trading and all hope was lost, shattered against the hard rocks of fate. All of my sins had culminated into an account spiraling lower, a cosmic punishment of sorts — custom tailored for me.
But all of that is of course bullshit.
There isn’t a such thing as ‘fate’ and your trades have nothing to do with the amount of killings you’ve partaken in. I want you to understand something, so listen to me very quietly: TAKE RESPONSIBILITY FOR YOUR OWN ACTIONS. Gone are the days of blaming others or circumstances for your condition. Sure, you grew up without privilege and didn’t have the Ivy League experience like some of your fuckhead neighbors. That can be a strength, not a deficit, depending on how you look at it.
First thing you need to do is stop trying to get rich trading. It will never happen. Use a diversified approach to compound returns, loyally add to said account, and try not to micro-manage it. Your trading account should be disciplined and position sizes should be around 5%. I know what you’re thinking: “but I want to get rich trading.”
STFU you bitch.
You want to get better and you want to fulfill a need, a gambling itch. Who the fuck are you kidding? Trade small, have fun, get better, bet big only during times of extreme confidence.
Does this strike you as the type of market that you should go ‘all in’ on? Probably not.
We’re heading into the colder months of the year, typically a good time of year for stock trades. Live to fight another day and cut those fucking losses quick. Do these things and I promise you 10 years from today you will thank me.Comments »