Didn't he blow up several times lol
.Short or long as long as you are right.
The Surf Report
- Thread starter marketsurfer
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Didn't he blow up several times lol
.Short or long as long as you are right.
in case you didnt catch this post on another thread, i find it interesting and think you will also. surf
Quote from Banjo:
Marketsurfer's last post in his journal says it all. He blames the market. He declares victory over, or defeat of, the market. There is no such thing, there is only victory or defeat over ones behavior while the market rolls along, producing profit or loss is the participants job, not the markets.
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i don't agree.
allow me to address your comments toward this writer.
i don't blame "the market" for my recent slam down--however, regardless of the traders skills or abilities, speculating into this type of event, one is at the market's mercy. one could state that it is foolhardy to have positions on prior to a potential extreme event-- however, my info and knowledge of what has occured in the past during the same scenerio provided confidence to enter as i did--only in hindsight can one see the foolishness of it--- it could have been a hero trade, one of the best single trades--instead of the worst in the least amount of time. that's called risk, embrace it, or forever CHURN and eventually BURN. you know what my choice is, yours is up to you.
surf
Quote from Banjo:
Marketsurfer's last post in his journal says it all. He blames the market. He declares victory over, or defeat of, the market. There is no such thing, there is only victory or defeat over ones behavior while the market rolls along, producing profit or loss is the participants job, not the markets.
.
--------------------------------------------------------------------------------
i don't agree.
allow me to address your comments toward this writer.
i don't blame "the market" for my recent slam down--however, regardless of the traders skills or abilities, speculating into this type of event, one is at the market's mercy. one could state that it is foolhardy to have positions on prior to a potential extreme event-- however, my info and knowledge of what has occured in the past during the same scenerio provided confidence to enter as i did--only in hindsight can one see the foolishness of it--- it could have been a hero trade, one of the best single trades--instead of the worst in the least amount of time. that's called risk, embrace it, or forever CHURN and eventually BURN. you know what my choice is, yours is up to you.
surf
You really are quite the all-or-nothing guy. You seem to need to be the hero, tragic or otherwise. Glory or blaze of glory. It seems to me that you view the markets more as a casino in which to make your mark and gratify your ego than as a business in which to earn your living. I think that you are more than embracing risk. I think that you are reveling in it. You are aggrandizing risk rather than trying to control it. But as you noted, we each make our choice. Good luck with yours.
Good luck Surf.
I am wondering, not being a wise ass, but asking a few questions. You have over 10,000 posts on ET. It does not look like your trading has changed much over the past 4 years. Same posts; same trade setups, etc. etc. etc. Do you keep a journal? Do you have a trading goal? Was this trade a 'bet it all' desperation trade to break even for the year? What is working and what is not working? What was the 'edge' you had going into this trade?
Relax and enjoy the downtime!
I am wondering, not being a wise ass, but asking a few questions. You have over 10,000 posts on ET. It does not look like your trading has changed much over the past 4 years. Same posts; same trade setups, etc. etc. etc. Do you keep a journal? Do you have a trading goal? Was this trade a 'bet it all' desperation trade to break even for the year? What is working and what is not working? What was the 'edge' you had going into this trade?
Relax and enjoy the downtime!
Surf, have you seen the movie "Rounders"? One of my favorite movies. It's loaded with quotes that directly apply to trading. Here are a few worthy of note that apply to your situation.
MIKE: You play for a living, it's like any other job. You don't gamble, you grind it out. Your goal is to win one big bet an hour. That's it. Get your money in when you have the best of it, protect it when you don't. Don't give anything away.
MIKE: Always leave yourself outs. Applies to a player's life away from the game same as it does at the table.
Then this famous line from Knish responding to Matt Damon's charge that he plays his game too tight and doesn't take any big risks.
Mike: "You see all the angles. You never have the stones to play one."
Knish: ""Stones"? You little punk.
I'm not playing for the thrill of f***ing victory here. I owe rent, alimony, child support. I play for money. My kids eat.
I got stones enough not to chase cards, action, or f***ing pipe dreams of winning the World Series on ESPN.
You want me to, uh, call some people, try and buy you some time, I will. Place to stay or the truck. No problem.
But about the money I gotta do this. I gotta say no."
Always leave yourself outs Surf. Always leave yourself outs.
MIKE: You play for a living, it's like any other job. You don't gamble, you grind it out. Your goal is to win one big bet an hour. That's it. Get your money in when you have the best of it, protect it when you don't. Don't give anything away.
MIKE: Always leave yourself outs. Applies to a player's life away from the game same as it does at the table.
Then this famous line from Knish responding to Matt Damon's charge that he plays his game too tight and doesn't take any big risks.
Mike: "You see all the angles. You never have the stones to play one."
Knish: ""Stones"? You little punk.
I'm not playing for the thrill of f***ing victory here. I owe rent, alimony, child support. I play for money. My kids eat.
I got stones enough not to chase cards, action, or f***ing pipe dreams of winning the World Series on ESPN.
You want me to, uh, call some people, try and buy you some time, I will. Place to stay or the truck. No problem.
But about the money I gotta do this. I gotta say no."
Always leave yourself outs Surf. Always leave yourself outs.
I watched Rounders and also saw the parallels to trading. It's a good movie.
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