There Is No Speculation Santa Clause
There is a Market Grinch that wants to steal your milk
Hope and speculation don't
Hope can keep you in losing
positions far too long.
Constantly check the reasons
for entering the trade in the first place. If the trade
does not act as anticipated, or within the time frame
expected - get out.
Wealth creation and wealth
preservation starts with rational thought. It is far
easier to think rationally when your money is on the
Hope that is not backed
by solid reasoning will steal you blind - because hope
alone can make you blind.
If your trade starts to
turn bad remember this point:
It will be much easier
to plan when all speculations are available to you.
The other option is trying to rationalize just the one
in which you are trapped by hope.
Cash is an asset class
- there is nothing wrong with waiting to speculate until
the odds are well in your favor.
There will be other, better plays -
let the hopeful one go.
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