Archives of “January 12, 2019” day

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These are always great

  
Analysis, Education, Life
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Washington Post’s Mensa Invitational which once again asked readers to take any word from the dictionary, alter it by adding, subtracting, or changing one letter, and supply a new definition.
the winners were:

  • Cashtration (n.): The act of buying a house, which renders the subject financially impotent for an indefinite period of time.
  • Intaxication: Euphoria at getting a tax refund, which lasts until you realize it was your money to start with.
  • Reintarnation: Coming back to life as a hillbilly.
  • Bozone (n.): The substance surrounding stupid people that stops bright ideas from penetrating. The bozone layer, unfortunately, shows little sign of breaking down in the near future.
  • Giraffiti: Vandalism spray-painted very, very high.
  • Sarchasm: The gulf between the author of sarcastic wit and the person who doesn’t get it.
  • Inoculatte: To take coffee intravenously when you are running late.
  • Hipatitis: Terminal coolness.
  • Osteopornosis: A degenerate disease. (This one got extra credit.)
  • Karmageddon: It’s when everybody is sending off all these really bad vibes, and then the Earth 
    explodes and it’s a serious bummer.
  • Decafalon (n.): The grueling event of getting through the day consuming only things that are good for you.
  • Glibido: All talk and no action.
  • Dopeler effect: The tendency of stupid ideas to seem smarter when they come at you rapidly.
  • Arachnoleptic fit (n.): The frantic dance performed just after you’ve accidentally walked through a spider web.
  • Beelzebug (n.): Satan in the form of a mosquito, that gets into your bedroom at three in the morning and cannot be cast out.
  • Caterpallor (n.): The color you turn after finding half a worm in the fruit you’re eating

Analysing yourself

  
  Education
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At the end of each trading day (week) you shouldn’t focus solely on your P/L. Instead, focus on your thought process during the day and how well you executed your plan. If you consistently execute your trades according to plan and still lose money, then you need to reevaluate your approach. While there is definitely a cyclical rhythm to the market, no strategy will always work. You need to constantly  and objectively  review what is working and what is not so you can make necessary adjustments to you plan.”

Managing the fear of making a loss

  
  Education
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Managing lossBefore entering a trade I know what type of loss I am happy to accept and I set my stop loss at about that level. Making a loss is part of trading. So long as the losses are small and the wins are large, life is great. Sometimes I have taken several losses in a row, which makes placing that next trade a bit harder because I think about the prior loss. I have overcome this by telling myself that the next trade “is just one of many thousands of trades that I will do in the future” and then I look forward to the next entry.

Cut your losses quickly, let your winning trades run, and allow trades to take their course. Be happy to make small losses, since the next trade may be the big one. Congratulate yourself when you have stuck to your plan, even if you have made a loss.

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