UHHH-Stuck with FAZ

Slow browser with too many things running. Let that be a lesson, NEVER TRADE OUT OF BOREDOM.

In fact, let me expand on that.

1) Never trade to try to make up a loss

2) Never trade to try to make something happen

3) Never Trade unless you have a REALLY good reason to.


You have an edge in the market (I'm not talking about this site-although hopefully you find it useful), you DON'T have to be in the market, you can pick and chose your battles and you can move in and out of a position much faster than the big boys (even with their HFT's-it still takes time for them to get out of a large position).

My worst losses came from boredom, trying to make something happen so my ex-wife wouldn't get on my case about whether I made money or not that day, revenge trading (very early in my career)-"I lost it in XYZ, I'm going to get it back in XYZ", or "I'm down 5% this week, I need to make that back this week".

I think it might have been in one of the "Market Wizard" books, but a fund manager/trader said he never trades unless the trade looks like money sitting on the ground that he just needs to lean over and pick up.

Use the edges you have over Wall Street, there aren't many.