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Catching Big Waves - a trader's journal of surfing the the markets
I saw a quote tonight, reportedly from Ralph Waldo Emerson (I have never read his work), and I followed it to website with more similar quotes, also presumed by him. I picked three that seemed to describe trading;
“Whatever course you decide upon, there is always someone to tell you that you are wrong. There are always difficulties arising which tempt you to believe that your critics are right. To map out a course of action and follow it to an end requires courage.”
I have been told by far more people than not, even this afternoon by another friend who saw my trading desk for the first time; “trading successively is a myth” or “everyone loses money in the markets” or “why do you want to spend so much time and effort on that?” But I have been mapping out a course and following it, regardless.
“To be yourself in a a world that is constantly trying to make you something else is the greatest accomplishment.”
And possibly one of the hardest. The move to trading full time is gaining momentum in support from the people around me, but it has been a struggle for years to find any supporters other than myself, and possibly a couple of people close to me, but for the most part, just me.
“Fear defeats more people than any other one thing in the world.”
My arch nemesis; Fear. I can see why it would have such an impressive record. But, I have been challenging it almost daily for the past month and and half, and it is retreating, slowly. It gets replaced by experience.
I laughed at the market today, face slightly flushed. Shorts getting nailed, and I am shorting it, but after they get tired. I can't recall laughing at the market movement before, and not sure what that means, but even now I am just grinning. Up 64 ticks.
92.50 has been a number I have been focused on for over a week now as a buy area. I am done shorting for the day unless price breaks yesterday's pivot at 92.30.
