It may seem obvious to most traders yet it seems for too many trader's it's not.
I am sometimes asked my opinion about an investment that I know little about.
Did you see what happened in soybeans today?
Why arn't you using the precious metals as a hedge in case the whole thing blows up ?
What about that $800 move in bitcoin yesterday ?
Not meaning to feign ignorance about anything in particular.
I will tell you I follow as much as I can.
And I read as much as I can, trying to stay current on anything that interests me.
No small fete in this day and age of vast information overload.
What I'm finding as I get older, is that you must let some of this go.
I used to manually update over 60 charts a week,in different time frames
in the S+P, Dow, Nasdaq 100, Crude Oil, Bonds,
and whatever special situation I was following at the time.
I'm talking about oversize 10 X 10 inch square graph paper, mechanical pencil,
and hours spent in my home office, with green banker's lamp, getting ready for the next day's trading.
Weekends were no easier.
I was deadly serious about what I was doing. I was a professional trader. I did not want to leave any margin for error.
Passion, and commitment require that kind of commitment and dedication.
And an understanding partner girlfriend or wife who would support such behavior:)
As I age, I am pulling back,
And the task of updating all of my charts is now down to a mere 30 a week.
Yet to some,that may still,.. seem like a lot of work.
You must completely prioritize your trading down to the minutia.
Don't try to be an "instant expert" and come in and trade a market
you really don't know only because its the hottest thing going right now.
Beyond Meat Anyone ?
Or Bitcoin ? From 20,000 to 4000 .And back.
I'm not meaning to pick out anything or everything hot or the newest fad in particular.
The real point I am trying to make here is quite simple,
Do your homework.Be a professional.
Learn from those who do it best.And be ready to step up,..
at a moments notice and trade,in the market, or market's you know BEST
Believe in yourself.
But know.. the market you are trading like the back of your hand.
And tune everything else... OUT.
THE_UNWIND
8/21/19
NEW YORK
I am sometimes asked my opinion about an investment that I know little about.
Did you see what happened in soybeans today?
Why arn't you using the precious metals as a hedge in case the whole thing blows up ?
What about that $800 move in bitcoin yesterday ?
Not meaning to feign ignorance about anything in particular.
I will tell you I follow as much as I can.
And I read as much as I can, trying to stay current on anything that interests me.
No small fete in this day and age of vast information overload.
What I'm finding as I get older, is that you must let some of this go.
I used to manually update over 60 charts a week,in different time frames
in the S+P, Dow, Nasdaq 100, Crude Oil, Bonds,
and whatever special situation I was following at the time.
I'm talking about oversize 10 X 10 inch square graph paper, mechanical pencil,
and hours spent in my home office, with green banker's lamp, getting ready for the next day's trading.
Weekends were no easier.
I was deadly serious about what I was doing. I was a professional trader. I did not want to leave any margin for error.
Passion, and commitment require that kind of commitment and dedication.
And an understanding partner girlfriend or wife who would support such behavior:)
As I age, I am pulling back,
And the task of updating all of my charts is now down to a mere 30 a week.
Yet to some,that may still,.. seem like a lot of work.
You must completely prioritize your trading down to the minutia.
Don't try to be an "instant expert" and come in and trade a market
you really don't know only because its the hottest thing going right now.
Beyond Meat Anyone ?
Or Bitcoin ? From 20,000 to 4000 .And back.
I'm not meaning to pick out anything or everything hot or the newest fad in particular.
The real point I am trying to make here is quite simple,
Do your homework.Be a professional.
Learn from those who do it best.And be ready to step up,..
at a moments notice and trade,in the market, or market's you know BEST
Believe in yourself.
But know.. the market you are trading like the back of your hand.
And tune everything else... OUT.
THE_UNWIND
8/21/19
NEW YORK
It's the middle of the night.