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Do You Feel Lucky?
One of the things you have to realize about trading is that you really have to try to leave your ego outside. If you're trading from home, take it outside in the morning and leave it outside in the front step. If you are trading from an office, I really recommend you leave it in your car. If you're taking the subway in Manhattan, that's a great place to leave it, believe me.
The stock market is a very humbling financial arena and one of the things that you have to realize is, if you buy a stock and it goes up, congratulations, you are very, very lucky to join them, and when you buy a stock it immediately goes down, you are wrong. You can't beat them, whoever the infamous they are; the market has no sympathy, the market has no mercy, the market doesn't know who you are.
When you are lucky enough to just be there on the right side, don't think that you are smart, you are not, you are lucky, and being lucky and joining them can be a very, very rewarding career. When you just admit the fact that you were lucky enough to join them on the ups, lucky enough to join them on the downs and when you're short and the market is going up, or you are long and the market is going down, you are wrong. It happens, you are a human being, accept it, move on and tomorrow is another day.
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