Tuesday, 16 September 2014

Rainy Days

Not all days can be warm and sunny.  There will be rainy days.   Right now we have "Green Season" here in Thailand.  Rainy season that is.  For the most part it's sunshine with occasional rain.  But at the moment there is a typhoon approaching the mainland which means here in Phuket there will be more rain and winds.  It's only 25C and despite this being warm or even hot in Western countries, having acclimatized to the 30 to 35C temperatures, I feel cold.  Am I going to go to the beach?  No.  What's my point?

Trading is like the weather.  You can't have all sunny days.  There will be rainy days.   They suck.   Having a bad trade is just as bad.  And when it rains, it often pours.  And when it does there is not much you can do but wait for sun.  Same goes for your trading. Wait it out.  Sit on your hands. Keep busy.   Don't try to make up for a bad trade by placing another trade.  Give it a day, maybe 2, maybe a week.   Chances are your analysis was flawed or the market is volatile, so all you're going to do is make the same mistake.  You're not going to plan a Beach trip when it's been raining all day, are you?