What fascinates me is the Opportunity Cost. If you go down the path of taking in information, and taking in information that is just made up, not real, and assuming it to be real… there’s an opportunity cost to that. All the time that you spend on stuff that is not real prevents you from getting ahead on what is real. So the trick in this day & age, if there is one, is the filter.
My biggest challenge is that I work for the Royal Danish Navy and sails in the North-Atlantic, and do not have access to fast internet, only slow slow internet. I need to figure out a system with less time online, and think that trend following could be it.
I once opened a fortune cookie a couple decades ago and it read, “your health is your wealth”. It really resonated with me, as I felt and still feel, that I’m very healthy relative to my family and friends, and it’s how I think about my life in terms of what to reflect on. In this regard I feel blessed. As another author put it, you don’t want to be the richest person in the hospital.
My biggest issue has been the volatility that Trump caused by opening his mouth. Last year I had several options on Amazon. Without any real reason Trump just started whaling on Amazon almost on the daily. Since then I’ve been reading very little and studying much more. My true mistake was that I had too much money in one investment.
1. Some indecision between short term trading (faster signals) v/s long term (slower buy and sell signals). Not sure which gives better returns –> have heard proponents for both but inconclusive in my mind so far. I guess it comes down to personal preference, although would like to know what you think.
2. Which is the best set of indicators: Moving avg crossover (?) if so, the best combination?
3. Have not been able to create a system as I flex between multiple strategies with issue # 1 (short term v/s long term) really throwing a wrench in the whole process.
Look forward to getting some help from a proven expert like yourself.
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In this episode of Trend Following Radio:
Mindset Secrets for Winning: How to Bring Personal Power to Everything You Do
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The classic text ‘Reminiscences of a Stock Operator’ by Edwin Lefèvre PDF
“If you want the chance for big returns in bull, bear and black swan markets, THIS is where you want to be. But this ain’t clipping coupons. No risk, no return.”