Check Your Ego

I traded from my phone and successfully bobbed and weaved between bullish and bearish ideas — taking a little of this and a little of that — small wins and losses but on the balance wins.

My book at the close.

When I was a younger man I traded with enthusiasm and ego. This sort of attitude produced monster sized wins but also losses. It made the highs very high and the lows very low, probably the reason I went bald in my thirties since it’s not a trait in my family gene pool. I only began to understand day trading after I retired or left money management. Once I only traded my own money, my ego needed to be checked and that included reducing position sizes and admitting when wrong early rather than embedding myself in an ideology in an effort to produce big gains.

I’ve proven live inside Stocklabs that big gains (300% in 2020, 212% 2021, 53% in 2022) can be achieved without taking on outsized risk and it could be done in a manner on par with being both a gentleman and a scholar.

I always tell people to just mirror what I do since you’ll never be better than me; but that of course isn’t true. I’m not the best, but just very good and a professional. If you take anything from me, take the way I lose and accept when I’m wrong and how I don’t give up or take breaks — but trade through slumps and right back into winning streaks.

Have a great weekend.