You must do the things you think you cannot do.

- Eleanor Roosevelt

Thursday, November 12, 2009

Be Like Bamboo

Ancient Chinese mythology relates the charming tale of the flexible bamboo and the defiant oak. During the Monsoon season strong winds assaulted these plants. The stubborn oak was broken in half, but the resilient bamboo bending to a superior force survived to stand straight when the winds changed. While thoughtful people can easily see many applications of this moral, the one concerning us here is the maxim of not fighting the ticker tape.

- James Dines

I'm a sucker for books. Today I picked up a used book from the 90's called Intermarket Analysis and Investing: Integrating Economic, Fundamental, and Technical Trends. So far, I'm enjoying it immensely.

The above quote begins a chapter on trend analysis. I liked it particularly because the moral fits a trade I made earlier this morning in the EURUSD. If I had acknowledged the "ticker tape," my trade would have broken even. Nah, the numbers can't be right! Oh well, as long as I do not remain in denial about the trade, I learn something. Furthermore, I did much better than I would have when I first started trading. Looking at improvement tends to be a good way to view things.

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