People are often beguiled by the character of the market. I’ve seen it my whole life, dating back to when I first starting trading as a teen in the early 90s. The market only appears to be crazy now, mostly because it’s coupled with insane news. But it’s always been crazy, rest assured. We aren’t only talking about people’s play money, but their life savings and their ancestral fortunes. Because of this, the stakes are high and nerves are almost always on edge.
As a trader, your job is to see the forest through the trees, if that makes sense. I like to compare it to when I was in high school being the star athlete that I was, going through a slump. The pitchers were throwing a lot harder and I was intimidated for a short while. Anytime a ball came high and tight I stepped out. Anyone who plays balls understands that when you begin to step out, you’re never going to get a hit. It took some time but I eventually got accustomed to the harder throws and leaned into the ball instead of out and achieved success. I recall mentally preparing myself to get hit in the fucking helmet by a 93mph fastball, and to have my head explode on the home plate, in order to earn the chance to get a single.
Naturally, I am not suggesting you stick your head out into the market for some lunatic to bash your brains in about the pavement; but what I am suggesting is that you should be afraid of the speed, and to also make sure your helmet is sturdy.
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the clownish political climate deserves a clownish market. late stages pax
Great post. As a trader you need to have a plan for whatever pitch comes your way. If you don’t know how to react, you’re going to freeze in the moment and lose money. Work on your strategy to make a plan for all those wild pitches when they come and you will trade better and also not feel a wave of anxiety. Ride on.