Regular readers will know that I have been tired this week after a heavy day’s hunting last weekend. For most of the week I have been trying, and failing, to push through. Sorry to go on about it; the reason that I bring it up again is that it demonstrates why a trader should be prepared to miss trades when he is below par. My trades from the first three days of this week were bad. Specifically, the stops were too tight because I was greedy, and I was greedy because I wasn’t thinking clearly. It is also much harder to see the wood for the trees when you are struggling to get through everything you want to read.
Today, therefore, I have stopped fighting it and spent most of the day watching Babylon 5 — don’t laugh — and buying food colouring to put in my milk (people from other offices keep stealing it; now it is green. Hat tip: Dave Fidler). I have said it before, but working harder in this business is not necessarily working better. I have done one trade today (long gilt) and it seems to be working so far; and I am now up for the month, despite taking so many losses.