Tuesday, February 22, 2011

The Daily Note - Like Falling in Snow

Gone are the days when I could boast not a fall on the slopes. I don't ski often enough anymore and when I do, I like to think I can ski like I did back when. However if I didn't try, I'd be bored. Thus, I realized today that I trade much like I ski: Heart full of adventure and a dose of caution, with eyes to the future which on the slopes, is the end of the run without a broken or twisted limb.

Isn't that what we all experience when we are planning a trade? Adventure, caution, eyes on the prize, and hope for no flash-crash.

Except that we fall sometimes regardless of experience or caution, and we sometimes fall on hard groomed, icy slopes or into soft snow. Presuming no major injury requiring a free ride in a toboggan, we get up, brush ourselves off and.. and .. and ..

What do we do? Stand there and freeze? Cry? Wait for a solace? Stare at the slope? Look for the snow snake? Blame the equipment? Very few skiers do, and if they do, they will likely never ski again.

No, we ski on. What's more, we look for the opportunity to correct the mistake we made that caused our fall. In other words, we work on perfecting our style and soon we are back in the adventure, with eyes on the future and we soon forget the fall.

As I said, much like a well planned trade, and the next, and the next. If you "fall" or experience a loss, do you freeze? Wait for solace? Blame the platform or broker? Look for the MM who did it to you? Very few traders do and if they do, they will likely never really learn to trade well.

Instead, be like a skier no matter which style or how much experience, after a fall, get up, and continue to trade while perfecting your style. Soon you'll be enjoying the adventure again, as you learn from the mistakes, and having fewer falls and you'll be ending in the future with a giant grin under your ski mask. Yeah, I said a ski mask, it's been cold up here!

Some day I'll write about my more memorable falls. (The ones we never forget!)
One of my favorite songs for the slopes and the markets, a reminder that mountains need valleys.

See you on the slopes

The Daily Pick - PAAS

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