“The reason people find it so hard to be happy is that they always see the past better than it was, the present worse than it is, and the future less resolved than it will be."
- Marcel Pangol
Markets were volatile today and rangebound. It’s like depriving an animal of food, chaining it and then putting a steak just beyond its reach on both ends. That makes for a very mean animal.
Knowing this, I kept it small today and avoided temptation until the market had moved to its extremes. I would guess that 95% of traders lose money on days like these and that includes many professionals. It’s no joke and the best strategy is often just to sit these sessions out and wait for a better day.
The sailor can plan and plan, but when he exits the harbor he cedes control to the elements and relies only on his own capabilities. I was glad to have my heart rate monitor on today because I noticed that it was significantly higher than in days past. I hadn’t noticed this before but now I have an objective measurement of my physiological state. No more guessing about how I “feel” or trying to convince myself that if my exhalations are 50% longer than my inhalations that I “should” be more relaxed. Now I know. It’s like a life raft in my tempest.
I finished the day with a modest 2% gain and shut it down. Going golfing. No need to monitor the heart rate out there. That’s dry land for me.
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