For tomorrow.... we seem to wait or "do it then". But when you see it, clear and in front of you, will you act on it? Why is it that we don't. Why is it that some do?
I can't pretend to know why some excel and why others don't, save for this man. It's not a lack of motivation. Heck, before the alarm is going off at 4:33 AM (no...I don't know why it's not 4:35 AM, it just is) I am up thinking; what will my daughters do today, are my construction projects stocked and manned, what proposals have to be completed, did I invoice for that extra, are the Futures up or down, did my significant other sleep well and on and on. Get the Tea on, iron the pants and plan a run after the day. No, its not motivation that holds this man or any man back.
Its not seeing that holds us back. I am thoroughly convinced that we cannot want or need one more resource to help us succeed. From our friends, to vast amounts of knowledge and sums of money, its all out there. We just elect not to see it.
Case in point: for some time I have successfully managed to limit my risk in the market. I learned about this concept early on but did not take heed. Oh, I saw it - take my word for it. Not hard to see it. But you have to understand it. For me, I used a game developed by the Van Tharp Institute to help learn how position sizing is critical to managing risk. But what is really amazing is what I saw this weekend. Its been sometime since I have seen any significant loss in a position, but I almost did this weekend.
While playing a friendly game of poker, I could see and understand that my opponents had no concept of limiting risk in a strange poker game called Acey Deucey. You see, if you bet and match a card, you pay double your bet. You can bet the pot and loose big. During this game, we saw 21 card matches which ballooned the pot. I kept watching the same losers bet big and lose bigger. And that's really where the concept of position sizing really hit home. Yes, I know it and use it religiously but watching this painful display of carelessness was like an out of body experience. Finally I could take no more and proceeded to teach these poor, broke players about position sizing. Wow, did I ever save them $$$$.
When you are out there, where ever that is, ask yourself if you understand it. Listen to that 3rd inner voice.. it will help.
For Tuesday I am watching:
The sun rise
BPAX
THQI
SORL
REE short
XNPT
SQNS
NGSX
MTW over 50dma
GMCR & JVA short squeeze
Add to my PANL on dips
GOOG if it gets to the 50dma
What will I build?
What will you build?
