“The time between 2 and 12 years of age is used to build a reservoir of love and affection for your children, that might, if you’re lucky, last from 13-21.”
Best parenting advice I received. And I got lucky.
There’s an old Fidelity story that looked at its best performing accounts.
#1: dead people.
#2: people who lost access to their accounts.
Human nature gets bored quickly. Not just with stocks. With everything.
The market exploits that.
New ticker. New theme. New obsession.
The edge is hacking your brain to become desensitized to excitement.
Good judgment matters.
But once you have it, the harder part is often doing nothing.
cc: @SaiseiInvesting for reminding me it was Fidelity
“Whatever the case, the stock market will do whatever it has to do to embarrass the greatest number of people to the greatest extent possible.
Whatever that is…” @WalterDeemer
“The market always goes to the price that hurts the most people. The market does not know your price. This is not advice; Do your own homework… and use stops” @bootsiejones
“But let’s remember, markets do not exist to make you sound sensible at dinner. They exist to embarrass the largest number of people in the shortest amount of time” @lord_fed
It’s very important that you don’t copy my positions.
Why?
Because you can copy the ticker, but you cannot copy me.
You don’t have my pain tolerance, my time horizon, my risk appetite, my courage, my conviction, or my ability to sit there calmly while everyone else panics.
The edge isn’t the stock. It’s me.
You do realize one day you’ll die, and none of these numbers on the screen you’re panicking about will matter right?
Live your life.
Stop spending hours stressing about every single market move.
FIN/ Whatever the case, the stock market will do whatever it has to do to embarrass the greatest number of people to the greatest extent possible.
Whatever that is…
(Worst case? Probably Breakaway Momentum on January 6, 1976.)
(And yes, I am well aware that there are a lot of short-term warning flags waving currently.)
There is nothing to practice. To know yourself, be yourself. To be yourself, stop imagining yourself to be this or that. Just be. Let your true nature emerge. Don’t disturb your mind with seeking.
@realgeorgechota@The_TradingLife A trade has four outcomes - 1) Big win 2) Small win 3) Small loss 4) Big loss. Eliminate #4 from your trading and you will, over time, make a living trading. Thus... take the fucking loss.