You gotta be able to sleep.

by gbsmith4

I just read on twitter that a pal I follow was going home net short over the weekend.  I think he’s making the right call.

I just wish I had the stomach to follow him.  But I don’t because even though I think that’s the prudent play (with tight stops as he indicates), I know I wouldn’t be able to sleep much if that was MY move.

You see there’s this notion that successful traders are wild, go-go guys, living on the edge.  A cross, I guess, between Jim Cramer and some Bret Easton Ellis character, with their stomach in knots sweating over every tick.

Maybe those guys exist, but I think most traders are just lunch-bucket guys who punch in, punch out, and are pretty darn conservative.

I know I am, especially as I get older.  I could do better I guess, but I’d toss and turn with all the extra risk.

For me, it’s just not worth it: I hate not being able to sleep.

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