There are two types of successful people in this business
"I'm glad the mostly trendless market of 2012 is behind us. Good
times tend follow bad so we're due. In this business, longevity is
key. You must experience a variety of markets: The print money
phase when you can't wait to see how much money you made
overnight. The chop phase when you sit mostly out of the market
wondering if there will ever be any opportunities. And, something
in between where you make a little but then give it up-rinse and
repeat-and wonder if you'll every make any progress. If you
survived 2012, then pat yourself on the back. Your expectations
have been tempered and it won't go to your head when the
market begins to trend. There are two types of successful people
in this business: 1. Those who start during great times but
abandon a simple methodology and begin chasing rainbows as
soon as conditions change. Then, around 10 years later, they
realize that there is no Holy Grail. They then come back to the
simple methodology they started with and grind it out. 2. Those
who start during mediocre conditions and wonder if they'll ever
make a buck consistently but hang in there until conditions
improve. And when conditions do improve, they know that they
won't last forever so it doesn't go to their head. So, if you started
last year and are still here, congratulations! You might have just
shaved 9 years off of your learning curve."
- Dave Landry
PS Last year was a very humiliating year because nothing worked as expected. Last year not to lose money was a wonderful thing. Eventually the markets would be easier to read and the people who stay the course would profit from it.
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