10 When you have days like today with relentless selling you can’t fall into that abyss of feeling sorry for yourself or getting overall pissed. You must look at what you could have changed and learn from them. I call all traders liars if they didn’t have a day where they broke or threw something that was on their desk or in their vicinity. Learn and bounce back. If you learn from the the mistake you will bounce back.
Keep up the confidence and triumph. Keep those goals in mind and come back stronger than the day before. I like the movie 8 Mile as it shows how one guy overcame some obstacles. Particularly the last scene is my favorite. It shows B Rabbit (Eminem) triumphing over his adversary and overcoming anxiety that he had before. He came in stronger than ever and released what he had inside of him and crushed his enemies. Overcome the past and triumph!
This scene shows his final battle over the champion of battles, Papa Doc. He dug deep and brought it out.
10 Responses to “Trade Like a Rabbit and Triumph”
schadenfreude
It is said that if you know your market and know yourself, you will not be imperiled in a hundred trades; if you do not know your market but do know yourself, you will win one and lose one; if you do not know your market nor yourself, you will be imperiled in every single trade. ~ Sun Tsu (close enough)
redman59
Nice..will Happy German work? I thought this might be a good motivational post. Also like the story of Marshall Mathers (Eminem) not so much from a rap standpoint but from a person that overcame so much adversity and became successful.
schadenfreude
I like Marshall almost as much old ‘ultra-violent’ Alex DeLarge.
But none compare to the master, Jesse Livermore.
“The game of speculation is the most uniformly fascinating game in the world. But it is not a
game for the stupid, the mentally lazy, the person of inferior emotional balance, or the getrich-quick adventurer. They will die poor.”
zenhunter
He forgot to add “or the ones who cannot admit to being wrong” which was his own undoing…
schadenfreude
I wonder if things would have been different if Zoloft was available in the 1930’s?
Clinical depression took Livermore, just like it took Hemingway.
redman59
Good points zen & s.f. here on Livermore. His story is a good read all around from how he traded in his time and the overall story of his life.
zenhunter
Depression might have driven him to suicide; but the big cotton trade he made as described in his book dealt with how he could not admit to being wrong and even committed the sin of averaging down along the way. While that was the one big trade he described his shortcomings; it might not be the only trade he made with that kind of error. Hence his near penniless at the end.
redman59
Good note zen, also goes to show how some of the best succumb to the psychology of the trade and can abandon their own rules.
jim
Invest my personal fortune based on the philosophy from an MM movie… brilliant! What else did you learn in that one community college night class that constitutes your education?
redman59
Haha thanks Jim. You obviously did not read any of the post as it has nothing to do with what you stated. I didn’t recommend any advice on investments. Also I don’t believe in education makes one knowledgeable as experience and learning from mistakes trumps any paper document.