The time has come, this is where you must decide...
What are you going to be?
Pro, or Joe?
A leader, or a follower?
Someone who anticipates, or someone who only reacts?
Which group do you want to be in?
The 10%, or the 90%?
And not making a decision is not an option.
If you won't make a decision, Mr. Darwin,
or Miss Margin clerk will make it for you.
In fact, they may already have...
The time has come where you must make a decision.
Trading-wise; has doing what you've been doing - worked?
Has listening to who you've been listening to - worked?
Has reading what you've been reading - worked?
Are the newsletters and trading services that you're
subscribed to, making you money, or costing you a fortune?
Is your stomach in a knot, and are you waking up
in the middle of the night, wondering which stocks you
should dump to meet a margin call?
Are you finding yourself checking your online account
every twenty minutes at work, and not getting anything
done?
Are your trading losses beginning to affect your job,
and your family life?
Are you torn between hitting the sell button and just
getting out, or drawing on that home equity line, and
wiring some more money to your trading account...
and averaging down - because they just can't keep going
lower, day after day... and they gotta bounce sooner,
or later?
Or, are you sitting in the catbird's seat atop a pile
of windfall profits, sleeping like a baby, and waking
up each morning feeling like a kid in a candy store
on the night before Christmas, while considering all your
options, and perusing your buy/want list here?
The choice was all yours... still is.
Many of you have taken severe losses. I know you have,
my email box is filled...
"How can I make my money back?"
"My wife would divorce me, if she knew how much I've lost."
"Is it too late to go short?"
"Should I buy some of these beaten down juniors now -
which ones?"
"Can you give me your best pick... I gotta make my money
back..."
All of us have been there, at one time, or another. And
for all of us, it was when, not if, we'd be there. It's a
lesson that must be learned, and is learned, by all traders
sooner, or later.
And sadly, 90% will be there again, and again, and again.
Only 10% will learn, change, and never be there again.
And it's not intelligence, experience, or education that
will determine who will be in that 10% and who will end up
in the 90%.
It's honesty, decision, and action.
First, you must be honest with yourself.
There is only one person to blame -- you.
It's not the fault of the newsletter writer you subscribe
to. It's not the fault of the Fed, or the hedge funds shorting
commodities, or those 4 banks who shorted the living daylights
out of silver on the COMEX.... it's you.
... the man in the mirror, and no one else.
And once you admit that...
You must simply decide -- never, ever, ever again,
will you let it happen.
And then you must take action.
Action to get better.
-- better skills
-- better mindset
-- better information
-- better strategies
Now if you've read this far, you're either ready to
change, and to take action... or, you're not.
And if you are, we'll have something more to talk about
this weekend.
Until then... just think about it.
S.O.T.B.
PS: There are only three types of traders in this world.
-- Traders who watch things happen.
-- Traders to whom things happen.
-- Traders who make things happen.
Which do you want to be? |
