Book - Trader Vic - Methods of a wall street master. (top trader from financial markets)
I laughed a lot when i read this text. I have some interesting stories too. Expensive lessons ;P
" The $4017 HAIR DRYER
One day in 1979, I was trading the commodities when i got a call from my friend, susan. I was long 40 wheat contracts, and the market was moving, so i had to watch the position intensely. I had a mental stop set to get me out and limit my losses. Anyway, Susan calls me, she's hysterical-crying, sobbing, sniffling-to the point that i can't understand what she is saying.
Naturally, i was concerned. I thought that maybe she and her husband had been fighting, that some real crisis had occurred. Then the truth came out.
Through sobs and sniffs i heard, "MMmmm....my hairdryer, it's.... its........ it's broken!
I just couldn't believe my ears. "Your hairdryer! is that why you are so upset!" I looked over at my good friend
and longtime partner. Norman Tandy, he just rolled his eyes.
"Susan", I said, "Susan calm down. How much do hairdryers cost?"
"Sniff...17 dollars."
At this point, I'm amazed and on the verge of bursting out laughing, "If it will make you feel any better, I'll buy you another one."
Naturally, any time someone gets so upset over a hairdryer, something else is really wrong. So, I started talking to Susan, trying to help her come to terms with whatever was really bothering her. In the process, i lost my mental focus.
I looked at my screen, and wheat had dropped 2 cents below my mental stop. That's $100 times 40 = 4000 bucks. I immediately called and sold the position, losing $4000 more than i had mentally allowed. A $4017 hairdryer, and i didn't even get to pick out the color"
good trades
r9
Sem comentários:
Enviar um comentário