Tuesday, June 15, 2010

Tuesday Notes - Peparing for MATD

"Preparing" for tomorrow's MATD and some reinforcing thoughts on traders "earning" their freedom ... which is no day at the beach despite the quick tour of my favorite unwinding spot.


Desmo said...

Let me just say I needed that post as much as you did. On the 24" screen I felt almost like I could smell the ocean and I kind of experienced that reflective feeling you get when you visit the beach...

Unlike you I ended up trading until the close following some unpleasant mid-day results where I stubbornly kept anticipating a reversal which never came. I finally realized what I was doing and just went with the trend. Although I managed to completely turn around my day it was with a bit more stress than I care to experience.

Looking forward to some of Don's favorite MATD.

Andrew said...

Thanks Don. Nice post. And yes, I think you should pay yourself with more time by the ocean!

Unknown said...

your best post yet :-)

steve said...

Cooper said that sometimes you can learn the most about the market by going to the ocean and just watching the waves. Great video!

Gary said...

Loved your post Don,I have learned the hard way not to take the ocean for granted. I live and traded in Pensacola Florida where BP oil spill is destroying our beautiful beaches.
I wish I would have paid myself with more beach time; I earned it but did not take it now it is to late. Fellow traders take time to smell the roses. Just my thoughts hope it helps someone.

Paradise Lost.


Trader Kevin said...

I listened to the video while doing the dishes. (One reason I have a laptop is for the portability).

So I missed the ocean scenes, but there was something you said that really grabbed me.

You said you make three-quarters of your profits from the MATD oscillations. Wow!

I know a lot of former locals (independent market makers who used to jam the pits in Chicago and New York) who complain that one can't make money trading anymore. They say that high-frequency traders and algo traders ("the damn computers!") have sucked the opportunity out of the markets.

Don, I love that you have put the lie to this myth. I love how you emphasize (either directly or indirectly) that our limitations are usually self-imposed and that our attitude tends to create its own reality.

Great post, thanks!