In this market period, trading can be particularly difficult as it requires exercising restraint instead of constantly taking action. I always carry a small notebook to jot down insightful quotes or ideas from books or tweets that can benefit my trading and thought processes. This notebook has become a sort of diary and reference material to track when specific influences occurred during the market's timeline. One quote that I came across and would like to share is: "It is natural for humans to want to play every hand. The desire to always be in the game is one of the speculator's greatest enemies in managing his money." This quote is especially relevant given the current market headwinds and challenges. Let us truly contemplate and internalize the following quote: "Often, money that is just sitting can later be moved into the right situation at the right time."
@jeffsuntrading In this market environment, a common American colloquialism is quite apropos: “F**k around and find out”. I’m not sure to whom I should attribute this quote to, but it seems to be the theme of the last year or two 😂
Thanks! I was looking for something similar at my desk, and I found this scribble on my kid's used school exercise book. I was jotting notes from Jason Shapiro's interview of Mike Webster earlier this month. Last part of the interview talks about avoiding trading in a bad time. "We're all junkies. We all want to trade." "I love drinking. I want to be an alcoholic." "Love is not enough. We have to be disciplined enough to succeed at it." "If you are a trend follower, the most important part is to avoid downtrend, avoid trading if necessary."
@jeffsuntrading Thank you for sharing 😊 I needed this 🙇🏻♀️🙇🏻♀️
@jeffsuntrading Jeff, I recently started following your journey and am falling in love with your processes and methods. You’re truly inspirational, buddy!
@jfsrevg I love small note book, especially the size that can be put in my pocket 🤭
@jfsrevg Hi Jeff, really appreciate what you shared in twitter, May I know do you revise the notes that you jotted down?
@jeffsuntrading what kind of pen and notebook!? looks classy