There’s a Balance to Everything

[andrasnm]

“There is the plain fool who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time.”
-JL

“The Desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money everyday, as though they were working for regular wages.”
-JL

Quote from romik:

couldn't agree more. the problem is that people in their majority treat day trading too literally, trying to trade every single tiny opportunity that arises and can't control the greed factor. I trade ES only, if i make 3 pts in a day when there is real opportunity I have a positive result, others chase 10 points+ and can't stop when they hit a losing streak either. When that losing streak comes upon us our mind can't rationalize, we get too emotional. People are also crazy about compounding, that's just absurd.

How many traders have blown it totally by trading in the chop zone? Probably a healthy majority.

 

[2manywhiners]

There’s a Balance to Everything

True.

Finding things that outweigh other things is key.


"You remember lesson about balance, Daniel-san? Lesson not just Karate, lesson for Whole Life." The Karate Kid