In trading there is no such thing as eliminate mistakes. There can only be reduce because to err is human. In this particular trade, I made the biggest mistakes and that was to chase to short with the mass public. Yes I suffered some reactions here and there but ultimately when it's time to go, I will not hesitate to book profits/cut loss. So the moment came at 6:55pm earlier where I finally managed to cover my 150 contracts of Dow Jones and secure all my $600 profits for a total net worth of $4049 for a 2 day trading the Dow Jones which brought my hit rate to remain at 100%. A win is a win and there is no argument about it.
I remembered back then when I learnt trading from my teacher, the reason I chosen him was because of his honesty, transparency, confidence and guts. He was my role model. Of course, when I pay to learn something, I must learnt from the best and someone who had done it all. Someone who can show me their own personal results and not any salesman with just talks! Anyone can give calls and talks, but when it all boils down to taking action with big contracts/lots, it's a whole new different ball game. Trading big and then giving out calls which produce results thereafter with $$ is something not many do.
Guts is something that school don't teach. Confidence is something that money can't buy. Ultimately, a win is a win, there is no right or wrong, results speak volume!
Ronald K, 2013
Update 18th Oct 2013, 10:42pm
My last trade tonight was totally crap. Losses turned to profits. I MUST NEVER ever chase again. It's so addictive!
Ronald K - Market Psychologist - The Big Speculator
