Sunday, September 13, 2009

Greed - Big mouthfuls often choke

"Greed is a bottomless pit which exhausts the person in an endless effort to satisfy the need without ever reaching satisfaction" - Fromm Erich

In today's Sunday Times front page "Help lawyers cope with changes" - Law Minister K. Shanmugam. These top dogs are too well protected over the years, are among the most talented of the population and yet they need help.

I try to avoid seeking the service of lawyers, I can see the greed in their eyes when they talk to me, "Yes, what can I do to help you, my fee is S$400/- an hour". If they know that you are rich and can be slaughtered, you are dead meat.

"The point is that you can't be too greedy" - Donald Trump

In trading, greed is also a much talk about subject, we have been told countless time not to be greedy. Greed leads to overtrading, bad discipline and poor money management. Greed can make a trader risk much more than he should in order to make more and more. Risking too much only leads to a quicker downfall.

Profit for the special account came back down to S$10,177.00. I have been struggling these 2 months with my poor performance, I have been wrong in my view, I have been stubborn to hold on to some lousy positions and most important I have not been focused. Still holding 3 Topix/Nikkei spread, waiting for a correction to get out.


Joe said...


Great blog you have here, thank you for your comments. I found you from Jules' site but she closed it private shortly after I became a regular.

This is a loaded question, but what do you look at as for timing entry/exit in your index pairs?

Thank you, and take care

Fat88Trader said...

Hi Joe,

I'm glad you enjoyed reading my post.

Too much explanation needed. Why don't you visit our AFACT forum and join in the discussions?

I'm sure you will learn something about trading and the index pairs.



Joe said...


Thank you for reply. I checked out the forum, seems like a good spot. See you there