First Post

Gave in to this blogging thing. I will post on stock trading, but I don't want this to be a 'trading blog,' as I will probably want to post on whatever crosses my mind... watch out! LOL.

I've been reading this book Zen and the Art of Happiness by author Chris Prentiss. The following passage struck me as not only something good to know in life, but also something essential to know when trading stocks. Here it is:

Alan Watts likened the practice of living from our center to martial arts, where we are encouraged to "stay always in the center position and stay always HERE." He says, "If you expect something to come in a certain way, you position yourself to get ready for it. If it comes in another way, by the time you reposition your energy, it is too late. So stay in the center, and you will be ready to move in any direction." When living from your center, in the now, he adds, "you stand a much better chance of being able to deal with the unforeseen than if you keep worrying about it."

I can't tell you how often I'd wake up expecting to trade the market a certain way, but then miss out on profits when the market veers the other way because I was too obsessed 'willing it' to go the direction I was sure it was supposed to go. I have gotten much better about this, but I find I am much worse about it when I am in the trade! Of course! Since I am better at taking profits than accepting losses, I tend to be really bad about it when I'm losing money. What REALLY gets me, tho, is when the market suddenly turns after barely giving me a profit in the direction I was heading. I don't feel satisfied enough to take the pennies and I tend to want to give it room to go back the way I wanted it to go. lol. Boy, I want to be right pretty badly, I guess! Tightening stops and sticking to them has been my hardest lesson in trading to master.