Your Almost Daily Bit of Wall Street Wit & Wisdom

Evil queen

h/t Disney

“That monitor is not your friend.  It’s basically a mirror, looking at all the psychological imperfections it can find in you…it makes you want to do overtrading…you act on impulse, it leads to errors, it leads to exhaustion, and the worst thing that happens is it leads to frustration.  And the frustration is where it starts tearing at the old trader’s soul.  Try to plan the trades that you really want to do.”
— Larry Pesavento

Don’t stare at the market.

Don’t act on impulse.

Don’t overbuy a position.

Don’t add to a losing trade.

Don’t overtrade.

Plan your trade.

Know what you’ll do if you’re wrong.

Know what you’ll do if you’re right.

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Happy Friday and enjoy your weekend!

Best regards,

Steve

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