1.) The Essence of a Bearish to Bullish Reversal While printing the absolutely bottom on a chart is often a singular event, such as 666 in the S&P 500 on March 6, 2009, the process of forming a bottoming pattern and transitioning into a bull run can be a tedious one. There is bound to be a fair amount of backing and filling, along with false breakouts in either direction. Moreover, the moving averages on daily and even weekly timeframes are bound to crisscross several times, contributing to the frustration of both bears and bulls.
A nod to the gods. A surrendering of ones ego in admission that we are fallible and perfection unobtainable. Tiger’s failure to understand, acknowledge, and accept that concept is what wrapped him so tight, that when the illusion was shattered, his game collapsed and may never recover.
The goal in trading is to make money, not to be a perfect trader. The real take away from watching Tiger Woods is to learn that in the markets, just like in life, ego kills. Pridefulness kills. Vanity kills. Self-importance kills. Self-delusion kills.
As traders we lose on trades. We sell to soon. We miss an entry. We top tick a move. And we have losing streaks. We are the definition of fallible; every one of us. And thinking otherwise is the kiss of death.
4.) A Case of Cult Envy Buffett insists there is never a “time for gold.” Maybe so, but choose your cults carefully.
– If I find anything interesting, I’ll just write another post. –
– Faceless Trader