I just recently found that I turned into my Mum. But something happened tonight made me realize it wasn't enough. In order to be qualified for a trader's partner, I have to turn into my grandma. Dear me, no wonder I got so much gray hair these days--perhaps the process has started unconsciously.This is what happened. MM still had a trading position open at dinner time, and the market was going the opposite direction from his bet, aka, he started to lose money. So he made a comment about bailing out. At that point I said "Perhaps you should lift your tolerance limit a bit; it's OK to lose some money."
Background information: On one hand MM kept on telling me it is unlikely to make money before losing money in trading (partially to justify he had been losing money since last May I guess :), which I agree. On the other hand last month/March he did really well and made money by becoming really risk-averse, you know, getting out as soon as he lost $5, for instance.
Anyway, back to what happened tonight. Unfortunately MM listened to me and stayed in the market. More unfortunately the market kept on going to the wrong direction.
This was at least the second time he listened to me and made the wrong decision. In order not to influence MM's decision making in the future, I decided to only say, "You're absolutely right" in the future, which was women in my grandma's generation did in China.
That was an easy decision on my part, especially after MM told me the story that some famous trader got divorced, even though his ex-wife was always right in telling him what to do in the market (though he kept on doing the opposite).
Now I finally understand why Mona Lisa has the best ever smile--she was a trader's wife!
1 comment:
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