PipStop

Since I go through a few hundred blogs a day, oftentimes, if I get past the headline, I'll read the first paragraph or two of a blog post. Today, I read one headline, saw the following picture and howled.

Yahoo’s Jerry Yang (middle) with Google’s Larry Page (left) and Sergey Brin in Sun Valley, Idaho.

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++ THE DANCING FED: I'll share the last paragraph of a blog post by Mike Shedlock of SitkaPacific Capital, and let you decide if you want to read his complete post.

If you have money at any bank above the FDIC limit you are living in a complete fog or your are completely nuts. This statement not only applies to individuals but corporations as well. Corporations better be thinking about where they park their payroll.

++ OIL, STOCKS AND ECONOMY: Rich Toscano shares his thoughts.

++ ANOTHER FXSTREET BLOG: Good grief. This is getting out of hand to the point that I can't even keep track of how many there are anymore. Incidentally, the new blog is by Dirk Du Toit.

++ THE BOOKER TRAIN: Rob's busy, I get it, and maybe I'm too big a nuisance to answer emails to, who knows? But he makes some great points and I'm digging back a few days and piggy backing off a post he put up a few days ago, complimenting our very own Pierre Charlebois.

Below is what I started to post as a comment on that post

I've talked about it with Pierre on a few occasions Rob. Early on for me, it was not wanting to lose. The mentality is why get out for a loss when the market is "bound" to come back? When it keeps going against you though, natural inclination is to continue to resist getting out because the losses get bigger. As it continues to go against you, you get trading paralysis - the inability to get out of a significantly stupid position because you'll lose a ton of money. It's almost better psychologically to get margined out at that point ... you know what I'm going to continue this train of thought on my blog.

I think you see where I'm getting at though. I've been through it myself, and have seen COUNTLESS others continue to go through it. At this point I call it Brick Wall trading - I'll explain that in one of the chapters of a book I'll write in one of my lifetimes.

It's important to impress that the mind is where everyone's success resides. You choose whether you are successful or whether you are not. More often than naught for those who have skewed expectations, it's their own human emotion that overrides the ability to exercise common sense.

I talk so much about this, I think so much about it, and I dream about it too. One day I'll put everything together and write a fun book. Or maybe I'll just keep it simple with a blog.