Classic trading axiom—being wrong is totally okay. It is part of the business. We are speculating on the future outcomes of things we have zero control over. Being wrong is inevitable.
Staying wrong is not okay.
Staying wrong will eliminate you from the battle. The battle to dominate the financial markets.
Like lets say you have a systematic trade based on a statistic. And that system triggers. But you are too busy riding around, gettin’ it and you miss the signal. That is an error, which should make you feel bad, and that is fine, but if you still have the chance to act, to right your ship, do it.
DO NOT COMPOUND your folly by continuing to make errors.
Seeing people ignore their tried-and-true robots makes me sad. God damn, the system is the system is the system. Execution is up to you unless you automate your actual orders.
If you keep getting in your own way the market will eliminate you. Slowly…then all at once.
Listen we all make errors. They suck and we need to do everything we can to minimize the risk of error. Algorithms and trading models work for me. They are immutable. And maybe something else will work for you. We all have a job. As good capitalists our job is to analyze, plan, and execute. Over and over.
They say good trading is boring. Maybe, unless you find gratification is following a plan. If you do not make rules and follow them, then someone else will make rules for you. Then they will manage you, like dog, and if you don’t perform they will either whip you or eliminate you. Is that how you want to live? Along the lines of someone else’s vision?
Discipline is the key to freedom.
Okay I am done.
Listen I have big plans for March, stay tuned.
As for the stocked market, I am bullish heading into OPEX.
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