By: Chris Irvin, Veteran Instructor & Trader at The Wizard
I have been married for 22 years, and in that time I have adopted these words as my words to live by – “You can be Right or you can be Happy.” This motto, with a slight tweak, can also go a long way in helping me with my stock market relationship.
The starting point for a meaningful relationship with the market is this: “The market is always right!” The market may not always make sense, but it is always right. The problem with many struggling traders is that they have not figured this out. If you are a trader who believed that you always have to be right, you are probably going through some difficult times. There have been several times in my own trading that following a few successful trades the word “genius” starts to creep into my internal vocabulary. This is a very bad sign. When I start to think I can’t make a bad trade, the reality is I should probably sell every position I have because I am about to be humbled. Continue reading "You Can Be Wrong and Happy!"