A Trading Tip

| November 14, 2008 | 0 Comments

November 14th is a national holiday.  Only a few people are aware of this important holiday.  A few months back I declared this day as the “James Bond Movie Release Holliday!”  Silly I know.  I drive my girlfriend (and a whole lot of other people) crazy with my obsession over James Bond.

“Shaken, not stirred.”

I own every James Bond movie ever made.  I’ve already purchased my tickets for tonight.  I can barely hold in my excitement.  I love everything about Bond . . . from the cars he drives to the women he loves.  I obsess over the quippy one-liners he delivers with a smirk.

I suppose my obsession with Bond started in college.

Back then the student center had an extensive collection of movies anyone could borrow.  The cost was “Free.”  The perfect price for a poor college student.  Of course I took advantage of the situation.  By the end of my career as a student I had borrowed a significant number of the movies.

I was approaching midterms my freshman year when I stumbled upon my first bond movie.  All I remember was a mad rush back to the student center.  I had to get a few more Bond movies before they closed for the night.  I spent the entire night watching one Bond movie after another.

I’d found my escape . . . and a great way to procrastinate.

For those of you who share my obsession, I’ll see you at tonight’s opening.  For those of you who look at us a little crazy . . . well, I hope you have your own obsession.

So how does James Bond relate to investing?

He doesn’t really.  Try as I might, I failed.  I searched for ways to tie the Bond Movies into a great investment idea.

Maybe a movie maker stock, or a gadget making company with obscene profits.  To be honest I couldn’t find one.  (I wasn’t about to tie James Bond to investing in boring bonds . . . even I have my limits.)

That’s when I realized James Bond movies made me richer in other ways. The movies and my obsession bring me hours of enjoyment.  I truly benefit from the way the make me feel.  And that’s why everyone should have an obsession away from the markets.

All too often I find myself stewing over the days market action.  I’ll toss and turn in my sleep wondering what my next move should be.  I spend hours analyzing past moves I’ve made . . . what works and what doesn’t. It’s good to be reflective – but as the famous saying goes:  “Everything in moderation, including moderation.”

Are you the same way?

All traders hit rough spots.  This market hasn’t been fun and lots of traders are having a tough go of it.

The best traders realize when they’re struggling.  Trades start going wrong left and right.  You start breaking your trading rules.  Those “sure thing” trades start losing money.  That’s when you need to take some time off.  Don’t force trades.  Don’t reanalyze your analysis.  Just stop trading.

All great traders step away from the computer to take some time for themselves.

Disconnecting for a time is healthy.  It can be as short as a few hours or as long as a few days.  When you return you’ll see the markets differently.  A new viewpoint will inevitably lead to better trading success.  A little escape can put you back in the right mind set.

Tonight I’m disconnecting by watching the new James Bond movie.  I might even follow it up with my own James Bond movie marathon.  Come to think of it, maybe James Bond can make us better traders . . . and richer in the end.

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Category: Stocks

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The Dynamic Wealth Report works with a number of staff writers and guest experts who specialize in everything from penny stocks to ETFs to options trading. These guest analysts post under the 'staff writer' moniker for ease of use.

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