9:52am - When I started trading as a wee-lad, I was keen on putting big dollars on risky high volume spec stocks. During some spec booms I would end my days at 2pm with a couple of grand profit, sit on my balcony, light up a cigar and look down on to the street and see some poor bugger in a suit. I had developed a highly pessimisting view of corporate work, the 9am-5pm that many do; that I used to do. I considered it a form of economic slavery - You are told where to be, who to talk to, and what to do for 1/3 of your day.
It only took a couple of weeks for my reality to humble me. I lost a ballpark figure of $7k in a single day. I would have preferred to be the man in the suit that day.
Those who want security sacrafice their time. Those who want their time sacrafice security.
Trading Tip: Reward demands risk, never lose sight of the fact that your job title really is: "Risk Management" not "Gambler". Control your risk, limit your losses, and manage your emotions.
