When you’ve achieved a state of mind where you truly accept the risk, you won’t have the potential to define and interpret market information in painful ways. When you eliminate the potential to define market information in painful ways, you also eliminate the tendency to rationalize, hesitate, jump the gun, hope that the market will […]
When all your options have been exhausted, make more options. There’s always something else you can do to keep going. When the obvious solutions have failed, get more creative. You owe it to yourself, to the situation, to life, to find a way to make it work. If what has always worked no longer works, […]
I shared this tweet today which was a quote from author James Clear of the awesome book Atomic Habits: How to achieve exceptional results: 1) Quantity: You take lots of shots. 2) Quality: You take thoughtful shots. 3) Consistency: You keep shooting for a long time. 4) Feedback. You take better shots over time. 5) […]
Over-caution is as bad as under-caution. Both are extremes to be guarded against. Life itself is filled with the element of chance. ~ Napoleon Hill, Think and Grow Rich Thinking in terms of hedging, the above quote makes a lot of sense to trading and investing. It’s obvious where not exercising at least a modicum […]
If you want better results, then forget about setting goals. Focus on your system instead. ~ James Clear, Atomic Habits This is such a contradiction to so much I’ve read from just about every achievement-related book, article, or blog post. It is constantly beat into our heads: you must set goals!! You must have a […]
Having more is an endless horizon. No matter how much you have, that voice of “more would be better” drives you to make acquisition the name of your game. ~ Vicki Robin, Your Money or Your Life In this quote, Ms. Robin is riffing on the common insatiable desire for humans to spend more and […]
In stillness you can hear yourself think. In stillness you can remember who you are. In stillness you gain perspective. In stillness you connect to purpose. ~ Ralph Marston As I’m winding down this week with the prospect of some upcoming vacation time filling my mind with thoughts of free time and frolic, this quote […]
Again and again I learned that lack of equity was a leading cause of failure. ~ Phil Knight, Shoe Dog It seems this is an issue not unique to the world of trading. With big eyes and full hearts, we often try to bite off more than we can chew. I am 1000% guilty of […]
Don’t worry about what the markets are going to do, worry about what you are going to do in response to the markets. ~ Passage from New Market Wizards, Jack Schwager There are very few people in the U.S. that can look at the stock market performance since March and draw any rationalization for how […]
I also suggest that once every ninety days or so you take an hour to read your journal entries from that period. But don’t be overly focused on the details, like the budget meeting three weeks ago or last Thursday’s pasta dinner. Instead, focus on the broader patterns or trends. Capture the headline. Look for […]