Apr

12

 Today was a day that I lathered the face at 7:00, and checked on the prices and the shaving cream is still there. Gold down a nice 35 bucks and bonds up a point and stocks down 8. The Dax down 150 and crude down 2 bucks. A take away from the trading. When the pain is too great to withstand adding to the position, and you utter an "oh , no!", that's when you should be standing solid as a stone wall and adding to the fortress, I think.

Vince Fulco writes: 

I've been looking at some historical chart of the softs and other extreme situations recently and per the Chair's comments it is remarkable how quick and painful the washout can be before the trend changes direction violently and puts on multiples of the initial move.

How many times if we just walked away from the desk for a couple of hours to read, jog, or do anything, would we return back to clover? If only one had the fortitude to stand firm at all times.

Kim Zussman writes: 

A possible key is a human inability to shift attention time-scales, i.e, if one is used to thinking (stressing) ticks (minutes, hours, points), it's hard to switch to weeks or months, then back again — in order to be profitable under different states of the market.

It may also help explain early buying and selling.


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2 Comments so far

  1. Mark Johnson on April 12, 2013 2:09 pm

    >that’s when you should be standing solid as a stone wall and adding to the fortress, I think

  2. Mark Johnson on April 12, 2013 2:12 pm

    http://en.wikipedia.org/wiki/Stonewall_Jackson

    Vic said.that’s when you should be standing solid as a stone wall and adding to the fortress, I think.

    The famous Stonewall Jackson received his nickname apparently during battle he stood his ground doing the opposite of what most would do and became famous because of it.

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