Hey…..I trade for different reasons than you. I need to eat, I need to buy new shoes and I need to pay my bills – just like everyone else. The only difference being – this is my job! No trade = no money, and no money is no good.
I am extremely leery of this market as a whole – but need to continue pushing in order to keep money coming in. Regardless of market conditions I need to keep digging, work longer hours, get up earlier, read more, find ways to keep money coming in. Patience in placing trades, is a mastery of human psychology and an absolute “must have” for the successful trader – but times arise when one must rely on other skills, other means to keep that plan moving forward.
With over 25 – 30 currency pairs at my disposal, you’d think I’d be able to find a place to put a buck or two – in order to stick to the plan right? RIGHT. When you win as often as I do, this falls into a simple area / category as what I’d like to call “managed risk”. I made “x” number of dollars last month – and thus far I am willing to “risk x value of that” now – in order to keep the wheels turning. On a fundamental level I’m at odds with markets ( as we are so far stretched, all time highs, currency wars, etc) but can’t allow it to impede my abilities to extract cash.
THIS IS CALLED TRADING – NOT INVESTING.
I already know exactly how much money can / will lose – to the penny I’ve already lost it. I know it, I love it, I embrace it. That’s the psychology of it. That’s what keeps you in the game.
Kong gets short USD as well JPY against the Commods. I can ( and just as likely will) lose money.
Big freakin deal.