You gotta be able to sleep.
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.