Your Daily Bit of Wall Street Wit & Wisdom

Magic Lamp

Lamp, h/t mylittleadventures.com Istanbul Magic Lamp Club

In dangerous times, remember the good old adage, “It’s better to be out of a market wishing you were in, than in a market wishing you were out.”

Spoiler Alert: Like worrying, wishing doesn’t help.

In your trading, use less wishing and more positioning with probability.  Have a complete game plan for each trade in place before you open your position.  If you’re prepared for what will happen when you’re right and what will happen when you’re wrong, you won’t need wishing.

You’ll be charting your course to trading success.

Best regards,

Steve

Leave a Reply

Your email address will not be published. Required fields are marked *