And should I feel just as bad as John Mayer for wanting to take advantage of a market glitch that would have made my financial dreams happen with just one click? Is it just as bad as finding six figures of cash in your account and not reporting it? The thing is... price happens and if I had found six figures of cash that didn't belong to me in my account, I would have reported it just like I returned that diamond earring I found last year at LHR. But when price happens and we don't take advantage of it, I think it's our mistake - not the market's mistake. In a transparent market, everyone receives the same price so in a way, we're always going through Finder's Keepers Moments in our trading.
Anyway, my confessional booth theme this week is how I missed out on major profit opportunities by being too fraidy.
I used to think that trading was all about QU luck. But the more I trade, the more I realise it isn't. If you don't have sufficient capital, then it could become a moment of QU bad luck when you get QU liquidated. So I've been asking myself if I should just concentrate on the part of my trading that is consistently giving me trading plaisir. You'll notice that I actually do quite well with selecting equities that move in my direction relatively soon. After my Mine Your Own Business post on Wednesday night, the miners I mentioned all rallied significantly in just two days. I really should have taken my own advice there.
BHP about +10%
RTP about +5%
MT about +7%
X about +7%
AA about +5%
Of course, I've had moments such as ABK as well. I've bought those tops, but I've bought bottoms as well. In my ABK-like instances, I rarely lose that much in comparison with what I've lost before with my forex trading. I keep talking about chastity, but little did I realise that I actually lost my trading chastity years ago. It takes that one moment and it's gone, really. LOL.
So, I'm thinking I should just focus on equities rather than spending time and money on investments that don't seem to pay off. I've said this so many times and now in my third losing streak year, I hope I can finally have the discipline to either say: OK, I'm only willing to lose this much more on forex trading and I'm really going to do the best I can with this capital or just get the fork out of that kitchen until I can make it work.
John Mayer... a guy who wrote an uplifting song like Heart of Life but then turns around and says some pretty contradictory and provocative stuff.
ForexDiva... a woman who tells everyone we're all going to make it someday but then turns around and does some pretty contradictory and provocative trading.
John Mayer and I seem to be no different at this juncture.
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