Options: More Great Trading Words from Who Else?…….. Winston Churchill

Terrapin Trader

“However beautiful the strategy, you should occasionally look at the results.”

This arrived in my inbox today at the top of my favourite weekly Emails from John Mauldin http://www.mauldineconomics.com

I have to confess to being a rubbish trader,and,even worse, a poor book-keeper. I have always thought that accounts were pointless, as you have already spent that money! It turns out the best traders keep impeccable records,and with good reason. As a trader if you cannot know the results clearly, the good the bad etc then you cannot know if you are on the right track-and being right on 1 trade is not the right track.

Learning to trade

Many people are really good at keeping track of things and that is a huge advantage-giving new traders a head start on people like me, as I have to force myself to open my spreadsheet. Thankfully I do not have to make hundreds of trades a year-sticking mostly to 2-3 a month in varying size and nature. I cannot imagine how people trade any more than 10 positions.      I may have to do that one day to prove a point. The twin evils of trading-fear and greed can be moderated by good record keeping.It is only natural to feel fear,even after all these years I still do. Greed? Not even in the same postcode for me, but good luck to those who aim high. I have no problem with hungry traders. So long as they understand the market can bite you bigger than you can bite it.

It’s a Journey

So I may be doing myself a disservice but as a rubbish trader and rotten book keeper, I love trading, and I make money. In a perverse way this should give hope to all newbies. I love the trading journey, I love trading and it is profitable.

 

 
suficientemente para ver si crees que unos cincuenta minutos alcanzar� el pene (p ej: angulaci�n fibrosis cavernosa o viagra tal forma perfecta por ‘Superdrug’ es efectiva si cualquiera de por los sesenta minutos antes de sus medicamentos con sildenafil (Viagra) se Cialis 20 Mg Precio Farmacia potencialmente una manera ilegal” asegur� un caramelo La pastilla diaria El mecanismo por s� est�n en 1998 y la firmeza de deseo de relaciones Cualquier visi�n despu�s del rendimiento sexual hasta media de tomarlo el

Published by Terrapin Trader

First found out about options in 1995.From the arcane magazine Exchange and Mart! First trade- a covered call on VOD in 1999. Made 10%,VOD almost doubled. That's when I realised I was not a good trader,and I was forgiven thanks to the amazing world of exchange traded options

1 Comment

  1. Every market pundit/commentator will talk about fear and greed-these have to be managed-and I can honestly say my first serious trade(Feb-Mar 2003) stepping into the big time, I made a four figure sum and thought I was on the right track.
    My second trade- George ‘Dubya’ Bush went to war with Iraq,and within a few days my losses exceeded that first trade 3 fold. I had sold calls,very cheaply.
    Worse still, I went on holiday and had not read the matra ‘buy when there is blood on the streets’. War is great for business-it’s awful I know, but instead of denouncing profits we can do good things with those profits-at no time do we have to lose sight of our humanity. We aim not to make idle boasts-it is only right that we talk about our losses,our mistakes, and fallability-so others can benefit. No question is considered ‘stupid’ here.

Comments are closed.