I received this email from a loyal reader which encapsulates why you should not take off when you are trading well. Trading is like being a professional athlete in that it is performance-based. Sometimes you just see the market better than at other periods. And if this is the case, sit in your seat, and enjoy these times. Squeeze every nickel out of the market that you can. Save that vacation for a later date.
Bella,
All I have to say is – THANK YOU! I was literally seconds away from booking a flight to FL to take a week off when I got your email saying “When you are trading well this is not a time I would take off.” Had I left last week I would have missed out on 15k in profits..Between MGM,LVS, TIVO I am up 6k, I also got pretty lucky on AUTC..I shorted 800 shares on the close yesterday around 40, risking about $1500 and today I wake up and see it at 35 – Nice little chop! Just goes to show that the more deliberate practice and hard work you put in, the luckier you get. I’ve also been experimenting w/ trading ES futures and I must say, its quite addicting! Between my trading and swing account I’m up almost 100k for the year. This last month has just been insane for me! Next goal : 150k. Only thing that concerns me is, am I making too much $$/taking too much risk? My tier 1 is 1000 shares tier 4 is 5000 shares. Thanks again Bella, I owe you a steak dinner for all the free advice you have given me!
4 Comments on “WHY NOT TO TAKE OFF WHEN TRADING WELL”
very good article, however never use trading as a priority over family or relationships that need a vacation – I regret acting like an idiot when I couldn’t take a 3 day vacation when making 500k+ a year..
very good article, however never use trading as a priority over family or relationships that need a vacation – I regret acting like an idiot when I couldn’t take a 3 day vacation when making 500k+ a year..
very good article, however never use trading as a priority over family or relationships that need a vacation – I regret acting like an idiot when I couldn’t take a 3 day vacation when making 500k+ a year..
Todd,
Excellent point! Steve tells a funny story of how I cancelled a trip to Italy with my sister because I didn’t want to miss a NASDAQ market bounce in 02. I should have taken that trip with my sister!
Bella