Monday, May 07, 2007

A funny thing happened this weekend.....

A funny thing happened this weekend, Saturday night at my sons baseball game, they lost. Not only lost, but got destroyed and in the process lost alot of confidence in themselves and their team mates. Now losing was not the surprise. All team lose from time to time but what was interesting to me was the manner in way they lost and how it relates to trading. It started innocent enough, top of the first 2 out running on first my son at bat (he has been ice cold of late). First pitch he rips into left center for a double, but the kid on first (not very fast to start with) was running on the hit and I had to hold him at third. What should have been a run resulted in runners at second and third with 2 out. The kids on the bench were very disappointed (my son was just happy to have a hit), they expected the runner at first to score, needless to say the next batter struck out and the inning was over. From there it was all down hill. We gave up 1 run in the bottom of the inning and 3 more 2 inning's later. After three inning's we were done 4-0. Not much you say and I agree, but if you were there you would not have said that. The body language said it all. Heads down, shoulders slumped, eyes rolling. It was not a good scene. As the coach there was little I could say or do to shake the kids out of their funk.

I think this relates directly to trading. How often do traders go into funks over seemingly little events and watched them steamroll into a major draw down of cash. When I managed other traders I talked consistently of "sitting tall in your chair" and to "be prepared for the next trade". If you are sitting there with your head down lamenting over the previous trade, what you did wrong, how the marketed "didn't react correctly", you have little to know chance of making money.

Each trade is a new chance to change your destiny. I try (it is hard... but I do try)to look forward all the time, watch the guys around me (what are they doing right and wrong and learn from their mistakes)and continue to march forward. Trading is a great profession. You get to make your own decisions and essentially be your own boss.

Tomorrow we play again. I suspect that the 12 year old boys that I coach will have long forgotten Saturday nights beating (the game ended 15-7 but it wasn't even that close). Lets hope that when the first ball is dropped or strike out occurs it does not translate into a poor body language that brings the rest of the team down. Whether it your trading team or little league team poor body language is a real downer.....

Good Luck and Good Forex trading.



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