Wednesday, July 26, 2006

 

Hotel California

Up 0.5 percent today. I was having trouble falling asleep last night. Lying in bed, I started thinking to myself what I would do if I got so rich that I didn't need to trade any more or so poor that I couldn't afford to trade. I realized that I either way I could never leave the game. If I blew it all, I would just sweat it out until I could raise new capital to put back into the market. And if I got super rich, I still wouldn't cash my chips, at least not all of them. I think the title of Cramer's first book, "Confessions of a Street Addict" says it all. Trading is an addiction. A very strong addiction. It really is Hotel California from the Eagles' song: You can check out any time you like, but you can never leave. So really the choice for me is not whether to quit trading or keep trading; rather the choice is whether I make money or lose money. Knowing this makes me realize that I need to continue to work hard to reach the top of my game. Does anyone else feel the same way?

Comments:
The Cramer reference reminds of Keynes quote - " The game of investment is intolerably boring and over-exacting to any one who is entirely exempt from the gambling instinct; whilst he who has it must pay to this propensity the appropriate toll.

Although Cramer didnt pay a toll - had big numbers. That was pre Reg FD days though.

P.S. Check out CRWS.OB - 4x FCF.
 
Yes, I feel exactly the same way. Trading is the most fun I have ever had, very addictive. I could never be too rich to stop, because I can't think of anything I'd rather be doing.

However, I probably could be too poor -- if I lost it all or nearly all of my capital, I think I'd be too discouraged to want to trade and be reminded of the old losses constantly. Fortunately, that hasn't happened (yet!), but I do have my share of nightmares.
 
Never in my life have I looked forward to getting up at 5:45AM, or Monday's. Mon to Fri passes quickly and I can't wait for Mon again. Addicted... yup, check me in.
 
Read "Adventures in Daytrading" about a trader's experiences during 1998-1999
 
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