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Tom Cathey wrote:
> IE...I almost feel that being intellectually correct about a trade is
> enough of a reward....and the money aspect just contaminates the sport of
> it.....THAT is a real problem if we want to be in it to make money <g>
>
> I almost think (who was that guy?) it's true that we all get what we want
> from the markets....maybe just trying to solve its mysteries is what really
> turns me on....cheezz
>
> Any suggesions on curing this problem?
>
> Thanks -
>
> Tom Cathey
Tom:
I've been making my living trading for a very long time. There have been times
in my trading career where I have felt that 'doing the correct thing' in the
market was what it was all about, that the P&L was not the score card. In that
sense, I often viewed it as a sort of Samurai code...if you do the right thing,
the thing you would do again given the same situation, the results shouldn't
matter...you get up tomorrow and have at it again. Now, I don't feel that way.
I don't trade for the satisfaction of doing the right thing. I trade to make a
living. If I lose money on a trade and I find myself thinking: If I found
myself in the same situation, I'd make that same trade, I spend an awfully long
time taking apart that trade and the situation and examining it from all
angles. I don't want to be in that situation again and react the same. The next
time, I expect to have a better result.
Tim Morge
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