Use access key #2 to skip to page content.

alstry (36.01)

Stay Focused...never count money at the table

Recs

12

October 16, 2008 – Comments (1)

Since the day I started blogging on CAPs....this was my theme:

Know when to hold em, know when to fold em................NEVER count your money when you are sitting at the table!!!!!

The reason is that....in life and investing...you can lose it all...in an instant.....especially if you don't maintain balance.  No one personifies the unbalanced manic depressive bipolar personality which can take you on the fast track to total destruction more than the chimpy cheerleaders when they are delt a decent hand and like to ridicule those that may not agree with them for that instant.

Life and investing is not a single poker hand.....it is a tournement.....and in order to win the tournement....you must successfully play ups and downs and victories and losses.  I have experienced both in my life and learned that the key to success is not celebrating the victories but overcoming the losses.  And let me tell you, I have had some doozy of losses.

If I can prepare and condition you for the losses....you guys can take care of the successes yourself.  There are millions of people that want to party with you when you are successful....the room is empty when times are tough......I play better in empty rooms for others.

Times are getting tough for many....this is where you need to stay focused.  Be careful of charletans and flip floppers who are out there to weaken your resolve and concentration.  When you are facing adversity, you must see the entirity of the situation and becareful about false prophecies and poor counsel because there will be a lot of it out there for the taking.

Let me exceprt one example for a CAPS blogger a few weeks ago when he was happy after a good day in the market and was trying to slam those with a negative perspective on the market:

So are we officially an INVESTMENT blog site again? I'm still a top 100 CAPs player.. are you?

So what CAPs players have dropped from the top 100 or 200 to the depths of purgatory?  Which by the way is Vermont in case any of you were curious

Looking back, I can't believe I was the only fool sick and tired of the world is coming to an end blog posts... because they added no investment advice... just buy guns, rocks, and tuna.......

So for all you fools that lost a crap load of money listening to the TRUE prophecy of doom blog posts.... gulping down that grape Koolaid like a pair of Siamese twins on a hot muggy afternoon at Ceder Point... make sure you thank those end of the world bloggers...  I'm sure they would be willing to post their name and address so that you can send them a something from 1-800-flowers ... 

Cappers....it doesn't matter if you are long or short....money can be made on both sides of the flop....what is more important is temperment.  Don't get too excited at the victories nor too down at the losses...the best way to temper the losses is have dry powder on the side at all times.  In CAPs talk...that is to not go all in with your picks unless you are holding a very strong hand...right  now I have about 100 picks out with about 100 in reserve.  In life...that is keeping cash in the bank.

Volitility serves opportunity for those willing to taste it.  You get to choose at what time and on what terms.

In the end, appreciate the little things, focus on the important things, be grateful for the successes, temper the losses, AND NEVER COUNT YOUR MONEY WHEN YOU ARE SITTING AT THE TABLE.

 

1 Comments – Post Your Own

#1) On October 16, 2008 at 9:46 AM, dinodelaurentis (74.09) wrote:

many people mistake anger or fear for energy; neither are.

they merely distract the mind from the task at hand.

for my friend Jorge Otereo (RIP):

"Focus Hard.

 Focus Now."

Report this comment

Featured Broker Partners


Advertisement