and other random thoughts.As I pondered what sage words of advice my 61 years could give to this energetic group about trading, it occurred to me that I have none that have not already been put forth. Oh, of course I could share some of my favorite stock picks or some bits of information gleaned from the many sites that we all know of, or some charts and projections, but alas, we all have access to those tools and I have seen them all presented here in STT much better than I could ever hope to do.So instead, with your indulgence, I would like to relate what has developed over the years as trading parameters for me.First of all I have learned that winning or losing in a trade is not the most important thing in life. Health, peace of mind, faith, and the love of a great mate and family are much more important, and they are just a few, if you do your own soul searching I am sure you will find many more. Over the last year I have seen many friends (on line) that have had health challenges, mental and emotional disasters and all around severe "testing of their mettle". And believe me the extra "buck" that they made or lost was not worth the anguish. So....keep you trading life in perspective of the "big picture".Second, if you find that trading is becoming, addictive seek help. I'm not talking about getting online to chat with friends about trading or researching till the wee hours of the morning or checking your "ports" every half hour. I'm talking about making trades just to be making them. About doing deals that you are not completely sure of but you just "gotta" be doing something. This is one of the quickest ways to financial disaster that there is. Remember one of the foremost rules in trading is "preservation of capital". Third, make sure you get enough rest. Without proper rest and sleep a decision may seem very good and wind up being the absolute wrong thing to do, but with "fuzzy thinking" you won't catch it.Fourth, enjoy your message board and chat room friends, listen to them, share with them, joke with them, party with them, but for God's sake don't make financial decisions based upon what they say. We all mean well but by golly some times we are wrong.......So always do you own research, take your time to think it through, weigh the options, then and only then make the trade.Fifth, Patience.......Patience.......Patience. I know what it feels like to think that next KKD is getting away from you and you start chasing, but there are many, many trades that are out there and there will be many, many more. If there is one thing that I would point too as a pitfall for new (and even some experienced) traders is the lack of patience.These are just a few of the things that I have learned over my span on this earth and I am still learning..ray
Thanks. You put an human touch to the board. One of the reasons I like it.
Thanks Ray! Theres nothing like the voice of experience!!!Thanks for telling us that!!
Ray, you've got your priorities straight and you've provided some great insight on this board. I appreciate all you've done and just wanted to thank you.A bit over a year ago I woke up at 5:00am with what felt like a tight throat and pain in the back of my jaw. I got on the internet (yes, I'm a geek) and looked up those symtoms. Surprised at what I found I decided to wake up the wife and go to the hospital. Sure enough, one of the arteries in my heart had looped (it's a genetic thing) and was restricting blood flow. Thankfully I listen to what my body is telling me and did not have a heart attack. It's what they call a cardiac episode. Heart attacks cause damage to the heart and I had none. They did angioplasty and put 2 stents in the artery to straighten it out and I was out of the hospital 3 days later.Since then I've moved even more toward enjoying life and sharing that enjoyment with as many others as I can. Life is FUN and always should be. Yes, there are always rough times but we all get through them eventually and good times are sure to follow.Thanks for posting that Ray and thanks to everyone else for making this such an enjoyable place to hang out in.
I agree totally. I watched my Dad play a little golf only & live behind the Wall St Jounral(sp?), his whole life. I hocked my life for 20+ yrs to "play with" my horses, my passion. My goal was to raise(from picking a mare & stallion on) a couple of nice foals. I did it. & now my Knees & hips are going fast. I'm SO glad I did when I physially(maybe not financially) could.Maybe too late to ever do it again now.I always thought you have to stop & smell the roses along the way in life. Might not be much left at the end.CJP
Carolyn,"I always thought you have to stop & smell the roses along the way in life. Might not be much left at the end."and Eric,"Life is FUN and always should be. Yes, there are always rough times but we all get through them eventually and good times are sure to follow."The voices of wisdom......:0)ray
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