What's the biggest thing you've ever thrown after a losing trade?
Being human, I usually get seriously annoyed after a trade goes the wrong way...I haven't thrown anything yet, but I have been known to mutter and curse angrily at my screen, the cat, my coffee, and anything else that happens to be in the room. Forex trading can be a pretty solitary pursuit, and as a result you can sometimes feel like the only person getting frustrated by the market...so it's always good to get some perspective and realize you're not the only one with issues. As Rich over at Forex Project pointed out this week, even the experts don't always make a killing.
The reason I ask about the throwing is because I was reading about a noted stock picker you've probably heard of because he's all over the place. I'm not going to name him because (a) guessing games are fun and (b) I don't want him throwing anything at me. But according to his Wikipedia bio, during his days running a (very successful) hedge fund he was noted for throwing telephones and computers around the office when the market wasn't going his way. (Not sure if they were laptops or desktops. Maybe Bloomberg terminals?) And this guy is one of Wall Street's great success stories.
So while I'm not recommending throwing heavy objects around the room, and while I still think it's wise to avoid getting too emotionally involved in the market, I also realize it's almost impossible to achieve perfect detachment and not get a bit worked up about a bad trade. Don't beat yourself up for being human...just try to learn from the experience. And who knows, maybe someday you'll have your own TV show.
Related topic:
Limiting your emotional exposure to the markets
Labels: Emotions, Psychology
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