Ladies and Gents:
I always preach, this trading game we play is just as much psychological as it is physical. Bernanke is not the problem. ... Obama is not the problem. ... They don't click the mouse. I click the mouse.
Me and that 5-inch gap between my ears is the problem.
As you all know, I have been on a major roll. I have been short the Yen for three months and took damn close to every tick out of the 1600-point decline. With my foot on the accelerator I've been on a six-figure run. Thanks to the Grains (especially the Beans) I made over $10k yesterday. It took me a weekend position and all day to make that money.
With my foot on the accelerator, last night in 10 minutes I lost $10k being short the Yen. I don't like losing a whole days work in 10 minutes.
The first thing my big EGO tells me is to get my money back. The new and improved TLP reminds me I AM THE PROBLEM. It is time to take a step back. Do not think about the $10k lost. Think about the money made since October. Think about the money made since January 1. Think about this TLP ... making money is the easy part. ... KEEPING IT IS THE GAME.
I know I have taken a psychological and a financial hit. Last night's move was news-related reminding me why I quit trading the indices in December. I refuse to take any more hits due to trading news related markets.
Until further notice, it is time to pull the Yen reigns in and look elsewhere.
It's been a great run.
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