Trading is Personal
I like whisky- it is complex, and something that is not immediately appealing. I like lemonade- it’s instantly appealing, but never surprises. Options are like whisky. Complex, sometimes surprising but mostly rewarding. Trading a future or forex is, for my taste, like lemonade.
The Trader Journey
Over my many years of ups and downs I have come to understand the relationship between my trades and my personality. I’m sure I have the potential to make a six figure income, yet my personality holds me back. I don’t like the idea of wealth-while it can be a force for good.I don’t see that manifest itself too often. America’s choice may prove me wrong, but part of the American ethos is that individuals choose to give to charities, and do not expect the state to act for them in that regard. They resent big government and I suppose we all do, we don’t trust people to do the right thing.
So my own choices are that I trade way too small, I miss trades and sometimes take my profits early. It’s personal, and without guidance I have limped along gaining knowledge, trading modestly but finding my own way. You should never be comfortable in trading, it’s about learning to be comfortable about being ‘uncomfortable’. We should strive to optimise risk.
Confession
Recently I have argued that options are the reverse of regular trading and we should ADD to a ‘losing’ trade. By this I mean a trade that I paid 3 to open, was trading for a credit of 20 to open. It’s now swung the other way showing a credit to close out of 27.
So…. I paid 3 and could close out for 27 that’s a good trade,but I could have got another credit of 20 and closed out for 27.
That is a great trade
