May

21

When you feel the market has been nasty to you, probably one of the best things to do is to invite a good friend over, to open a bottle of wine, and just spend some time together. As a suggestion, I propose a wine which is getting more and more popular in Italy, called Aglianico del Vulture. It is a red wine produced in Basilicata (Vulture area), and it is considered one of the finest wines that is produced in Italy from Aglianico grapes. The color of the Aglianico wine is ruby garnet red with a dry and savory taste, and 11.5-13 % Alcohol. The wine goes very well with meats, especially roasts and wild game.

My approach to the market lately has been quite poor, because of a lack of discipline. I did not close a losing position, hoping that the usual random movement could help me as it normally does (99.5% of the time at least). But the market has not been "normal", and unfortunately this time it worked differently and I could not (or did not want to) find a decent exit. This is a lesson that I am sure will drive my trading behavior in the future.

Flexibility and recognizing your own mistakes is very important. The market has changed behavior in the past 3 months and I have not been able to understand it in a timely manner and act accordingly. Last night I invited a friend of mine over, and spent some time talking about the next holidays, past common experiences, and we enjoyed a couple of glasses of good wine.

Today, my trading loss is still there, but the Aglianico and the friendship worked well. I look to my future trades with more optimism, and with the aim to improve as a trader applying the lesson learned.

Janice Dorn writes: 

It is not the markets that one tries to understand, rather one's response or reaction to what the markets are saying. It is a form of inability to take personal responsibility that causes us to lay the blame for underperformance on something outside of ourselves. There is no shortage of people, places, or things to blame. Instead, we may be better served to drive all blames into ourselves and to respond to that activity with self-compassion and learning.

In the end, it is not the markets that have been nasty to you; rather it is you who has been nasty to yourself in the environment of the markets. Friends and wine may certainly help, although I am not completely certain how this works except as a temporary respite


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