Yesterday Tuesday afternoon, I went for my discount movie watching fix.
What do you know?
This Tom Cruise movie Edge of Tomorrow was surprisingly entertaining!
It’s Groundhog Day meets Starship Troopers.
For Sci-fi buffs, it’s not anything “new”; but for casual movie-goers, I heard some people mumbling what what was it all about? Didn’t understand this; confuse about that – as we walked out of the hall when the movie ended.
Trading is Live. Die, Repeat or Entry. Exit. Repeat
A trade “lives” when we make an entry. It dies as we exit the trade. Then the whole process repeats itself in the next trade.
Each time, we learn something new – about ourselves, the market, and our trading vehicle.
Just like the movie, no? (Eh… You may have to watch the movie first)
Most traders do not have the “power” to Entry. Exit. Repeat.
Why? We are hampered by the Mind part of the Method, Money, Mind trilogy.
Some of us can’t seem to learn from either our successes or failures. No matter how many 2nd chances we got.
We can see it in our Corporate life. I’m sure you can spot senior colleagues who think, act, and function like their 2nd year in the company times the 10 or 20 years they were in the company – no growth in mental capacity.
And then there are those who stubbornly refuse to explore Money Management techniques. Clinging to the idea that if you “hold” a losing trade long enough, it will breakeven – one day.
Entry is trading; exit is buy and hold “investing” – schizophrenia is never good.
The good news for the remaining surviving traders is we can Entry. Exit. Repeat.
Can’t wait till I hit my 10,000th trade!
It’s a bit like the XXX hours flown for a pilot.
And the XX jumps of a sky-diver.
There are no secrets or short-cuts. Just practice, practice, practice.
And the ability to bounce back from a stumble.
Singapore Man of Leisure (welcome to my blog; just google it!)