1.) “In situations where the uncertainty is high and outcome is a coin toss I tend to always give an edge to the bullish camp. The game is rigged, after all.” – Dynamic Hedge
Taken from a comment to Carl Futia’s article (Be content with what is possible)
2-4) First off, you have to accept that there’s disappointment in EVERY trade. You’ll never buy and not watch it drop and never sell and not watch it go higher. NEVER.
Second, the joy of profitable trades is always more muted than the pain of losing trades. And it gets worse as the years go by.
That said, one has to understand why they trade. It satisfies the need to be “in the game.” Try not trading for a while. There’s an addictive quality to it that you have to master and control, just like any other addiction.
If you can get 51 good trades and 49 bad trades, you’re still winning the game (though you may still be losing money).
Finally, don’t trade with money you can’t lose.
5.) Be happy with the gains you get WITHOUT going too far out on your risk spectrum.
– Faceless Trader got too far on the risk spectrum. 😦
(Part of me knows that the general market trend has extended, and perhaps is ripe for some profit taking. Nevertheless, I think it is often during these turbulent times, where even allowing the possibility of a further pullback, is something my short-term pain will probably gut-wrenching take. A friend told me that this is disappointing. I may be paying an expensive lesson plan again. Damn. I’m starting to become a fundamentalist.)