Читать книгу Taming the Lion - Richard Farleigh - Страница 11

I had no experience and I did all the wrong things:

 I started with positions which were way too big.

 I stopped and started a new strategy every few days.

 I had no long term view.

 I didn’t really understand what was driving the market.

 I grabbed profits as soon as I could and stayed with losing positions.

 I listened to the views of other people who probably had no idea either, including brokers and people with fancy charts.

The result was to scare the life out of me. I had thought you could make money by trading, but I became convinced that it was impossible. I squared all of my positions and decided never to trade again.

Although it did not take long for me to break that vow, I have never forgotten that first unpleasant experience. Even now, when I make investments, I have a fear of the markets, and perhaps an underlying scepticism of my ability to outwit them. However, I am convinced that over the years, the fear I first experienced at that time has saved me a lot of money, and allowed me to stay in the business of trading.

I want you to have that same level of respect. I want to convince you that the market can be a horrible place where your money can just disappear very quickly. You’re throwing dice, tossing coins, whatever. There are no certainties and you don’t know what you’re up against.