Thursday, December 31, 2009

Happy New Year/End of Decade

It was a good year to be a trader in that we all learned something, be it noobs or veterans. This is our second crash since we started trading in the late 90s and the trench war experience has made us into stronger more seasoned traders. The positive of being a trader this decade is that it makes one have faith in one's abilities -- if we survived this, we can survive anything.

Short-term emotions will always reign supreme, but long term logic always wins out which is the reason we are technical based for short-term decisions and fundamental based for long-term decisions.

For purely psychological reasons (and not technical) we went flat in our day-trading and swing-trading accounts today with only nominal positions (LIWA and AVL.TSX) in our long-term fundamental based account.

Like experienced sailors going out to fish, we're confident and look forward to starting 2010 and yet will always be respectful of the power of the market.

Happy New Year to all of you -- have fun and stay safe, and we'll see you next week.