Aug 052012
 

Like good French citizens, we take our vacation in August.  There’s an unwritten rule that Paris must be evacuated during August.  At least of Parisians.  I actually like staying in Paris in August when it’s just me & the tourists.  But school’s out and childcare is hard to come by.  So to the beach we go.

We leave Wednesday and will stop in Bourges to see its magnificant cathedral and have lunch.  Then continue to Clermont-Ferrand where we’ll spend two nights.   The major attraction there are the volcanoes.  We’ll also visit some other towns like Volvic (famous for its bottled water) and Vichy (famous for its healing thermal waters that heal stomache ailments, the French are very superstitious).  Then to Carcassone which has a great medieval old town with castle walls and ramparts.  Then a week in Perpignan which has belonged to Spain once or twice and is as much Catalan as it is French.  Then we drive east and will stop along the way, possibly at Nimes and Arles (where Van Gogh cut off his ear) before arriving in Antibes.  After a week and a few days we make the grueling 8 hour drive back to Paris (takes us about 12 hours because there are great cities along the way such as Avignon, Lyon, and Dijon).  I really enjoy taking vacations in France, there’s so much to see.

We won’t have wifi in Antibes, and the first part will be in hotels so I’m debating if I want to bring a notebook computer at all.  I’m not even sure if I’ll have much time for trading.  My youngest is now old enough not to need a nap so I don’t have an excuse to hang out in the room in the afternoon.  And they also like watching family movies at night.  So I am leaning towards leaving the PC at home and going with just the ipad & iphones.  That will minimize computer time which will maximize family time and that’s what vacation is about.

So you probably won’t hear much from me.  I’ll be busy packing before then and when we return we’ll be back to work and school.

As a review of this past week.. I only took a couple trades and scratched both.  One would have been a winner, the other a loser.  There were a few opportunities that I didn’t get to take because all my criteria weren’t met.  I feel like I need to be a bit more aggressive but really the late action just wasn’t that attractive.  And Friday I didn’t trade at all.  So my stats haven’t really changed much.

Good luck with your trading and enjoy the summer.  See you at the end of August.  Cheers.

 

Aug 012012
 

I may be dating myself, but..

Said woman take it slow, and it’ll work itself out fine
All we need is just a little patience
Said sugar take it slow and we’ll come together fine
All we need is just a little patience
(patience)
Mmmm, yeah

Those are the lyrics to Guns N Roses hit song Patience.  This song reminds me of how important patience is in trading.  Tonight I had great patience to wait for a good entry, but unfortunately I didn’t have enough patience to stay in the trade.  Buyers weren’t able to move price up and my System 1 took over (System 1 is a term for the untuitive mind, from the book Thinking Fast & Slow, if you’re curious System 2 is the alter ego and is based on logic).  My intuition got the best of me and I scratched my trade and then watched it hit my targets.  I should have trusted my stop.

Keeping positive, I did well reading the market and picking out my spot.  And I have enough gains last month to cushion against any losses this month.  So I can ditch the fear and let it play out.  Tomorrow.