Wise words from Maverick74

[michaelscott]

Hehe. These are words from Maverick74 that probably most of us can relate to at one point in our lives. I cut and pasted it from another thread.

The emotional and psychological pain of being in a bad position Maverick has described very well. After the market hours, you constantly watch CNN and earnings reports, etc.

Quote from Maverick74:





If you have never felt the agony of being in a bad position and holding it for weeks or months, it's the worst feeling on earth. As a swing trader, you have to take pain, a lot of pain. Most newbies cannot handle that. When the market closes, you cannot go out and enjoy your life. You are always glued to the TV, watching for earnings reports after hours, watching CNN all hours of the day for breaking news in the middle east, watching oil prices, interest rates, etc. Now for a seasoned trader, you eventually build an immunity to all that. But for a newbie, it's hell on earth. As an intra-day trader you can cut the noose loose at the close and relax, regroup, enjoy your evening and come back the next day re-freshed and ready to go. It's very important for new traders to be able to do this because this job is already so emotional as it is, you need to be able to recharge.

 

[thriftybob]

But its the day six or eight months later, when you see everyone saying its going to the moon, and you unwind the last 50,000 share block, up another 7 digits, that makes it worthwhile.

And if you happen to look a month later, and its down 20%, you think to yourself, it could have been me still sitting there.

 

[Landis82]

Quote from michaelscott:

Hehe. These are words from Maverick74 that probably most of us can relate to at one point in our lives. I cut and pasted it from another thread.

The emotional and psychological pain of being in a bad position Maverick has described very well. After the market hours, you constantly watch CNN and earnings reports, etc.

I seem to recall that Mav was a HUGE George Dubya Bush fan several years ago just before "Operation Iraqi Freedom" and it must be oh-so-painful still watching CNN every night.

Kind of like a losing position that is so UNDER WATER that there is no chance in Hell to even get back to break-even!

 

[murray t turtle]

Quote from Landis82:

I seem to recall that Mav was a HUGE George Dubya Bush fan several years ago just before "Operation Iraqi Freedom" and it must be oh-so-painful still watching CNN every night.

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Landis;
You may have noticed the context of mr Mavericks CNN remarks;
as a seasoned trader, you build up an immunity to CNN