EZ come EZ goEasy Money
“Home is where the Heart is”
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“No trade has a guaranteed outcome; therefore,
the possibility of being wrong and losing money is always present.”
People who look for easy money invariably pay for the privilege
of proving conclusively that it cannot be found on this earth.
A fool and his money are soon parted
Dead, solid Perfect
Like me, I assume you can do no wrong. I am not afraid to say there is no such thing as easy money in the market. I have played the game too long to believe otherwise. If you have a system that identifies windfall cash, I am happy for you. This is my journal, and I pound the ideas I need to hear relentlessly into my head.
My Best Trade
Hands down my best trade was passing on being a bachelor and marrying my wife. 54 years later, still going strong.
My Worst Trade
In hindsight, my worst trade was in real estate. Immature, playing the pyramd game worked until it didn’t. Painful lessons were learned. I traded common sense for greed. My wife knew better, and despite falling on my face, she stood by me. She’s a keeper as you may imagine.
Clean up one mess
There is an old adage that says clean up one mess in the kitchen before we make another. Since my wife often cooks and I help with clean up, I hve come to understand the simple wisdom in that philosophy. Applied to trading, if a trade isn’t working out, why add another position? Now we potentially have an even bigger mess.
Take Action and Manage Risk
Traders need to TAKE ACTION and MANAGE RISK. We need to stop the bleeding fast.
There is always opportunity. Every day, every hour.
There is always risk. Every day, every hour. Human error, equipment error, power outage, lack of discipline, lack of focus, internet connection goes down. I try not to argue with the market or people, it’s unproductive. The footprint we hear could be Sam coming to steal our capital.
Friday Night we took a risk flying from Florida to Connecticut, so we can visit family for the holidays. It took us about 2 hours and forty minutes to fly. We could have driven, and that would have taken us about two solid 11 hour days of driving and also would have involved risk. We choose our risk and manage it as best we can. We cannot control outside events; only our decisions and the results discovered in hindsight.
Another choice was available: stay put and dont travel.
Embrace risk, it’s the only way we can move forward.
“Some Traders need to go to an optometrist: They have an “I” problem:”
Reach out to me with inquiries.