LET’S GET LAZY
I haven't been updated "The Gun" lately for a very simple reason.....trading opportunities are few and far between. The long setups I had been watching over the past couple weeks have broken down given what we have experienced in the market recently. And short setups? Well, they are susceptible to days like today where the squeeze is applied with painful precision.
That leaves me with nothing to do. Having nothing to do is something that we, as humans, associate with laziness or complacency. Basically, when we have nothing to do we feel that it's because we haven't been working hard enough.
This is a good line of thinking if you're a postal worker, as there is always new mail to sort. It's a good line of thinking if you're a paper pusher, as there is always new paper to push. And it's a great line of thinking if you're a sales guy, you can always search for new leads.
If you're a trader or investor, however, it's financial suicide. Yet another example as to how the financial markets run contradictory to every emotion, whether learned or innate. It's an aliens game that a bunch of humans are trying to play. A group of midgets playing in the NBA. A gang of nuns trying to feud with the bloods and crips.
The markets are one of the few places where you are penalized for working hard. You begin pushing trades and creating scenarios that don't exist, instead of allowing trades and investments to come to you. Being anxious to find trades in order to stay busy just isn't good business in this arena.
Have some patience. The opportunities will come. In the meantime, if you feel the need to work hard...go to the gym, go do some volunteer work or run a lap around the block. You'll feel better about yourself and your portfolio will thank you, as well.
March 20, 2011
rofl, this article is very true, my worst trades always come when i just want to… “get in the game” As William O’Neil requotes from Livermore, the money is made in the sitting and what they ment is waiting for the opportunities to arise