Mar 20
Author : Asoka Selvarajah
There is a law called Sod's Law which basically says that if anything can go wrong, it usually will and at the worst possible moment conceivable; so much so that it will seem as though the universe is conspiring to get you!
This is what happened to me today, but I am glad to report that it nonetheless had a happy ending
So, there I was having done a Dow Jones trade that I had every reason to be proud of I had bought the Dow Jones at 6474 last Friday night, just 4 points off the low of 6470 prior to a major rally I had watched it retrace to the 76 4% Fibonacci retracement level, while having added a slightly misguided pyramid to the position at the 61 8% retracement
Nevertheless, good fortune sometimes favors the bold and the market roared, as had been expected when I put the trade on in the first place I was well in profit, and that pyramid was helping very nicely All good so far
So, here I was booting up my computer about 35-40 minutes before the market opens My intention was to let it trade to the next major high, and take profits on the whole position and then reverse to a short position for the inevitable correction
Well, you can imagine my horror when I found that my router was not connecting to the Internet Thinking it was a temporary error, I rebooted the computer only to find the exact same thing! I tried again with the same result (and my computer takes AGES to come back fully into operational use after a reboot)
So now what? I have a major position on, I need to take action maybe immediately on market open, and I can't see it! Thoughts of having to physically telephone the broker to take the trade off blind, without a live chart, came into my mind
There were only twenty minutes before the market opened A desperate idea came to me I went up into the attic to retrieve the DSL modem to see if I could possibly install it in time At least I was keeping a cool head, but the clock was ticking me down
I fiddled around in the back of the computer and switched wires from the router to the modem, and connected it up Of course, the damn thing would not install properly I had to try several times, hunting for the specific driver, and the specific way to connect online
Just a few minutes left before the market opened At last, success! I finally logged onto the Internet, opened my trading software, and no sooner had it opened than it gave the "Market Open" clang of the bell I had made it with literally not a second to spare!
So what is the morale of this story? Why am I telling you all this?
Be prepared! The things that you think could not remotely happen, the things that would have to defy the laws of probability to happen, do happen! Who could have guessed that at precisely the moment when I needed to access the screens to take profits on one of my best trades in recent times, this kind of conspiracy of events would present themselves to thwart me and potentially screw up the trade?
If you use a router, make sure you have a modem handy too and ensure that the software is installed! Make sure that you have the number of the broker handy and that you know how to actually call in an order manually (do you?)
Basically, think ahead and try to picture what might go wrong and come up with a solution to it beforehand Maybe you need a spare computer too? What happens if there is a total power cut in your area (it WILL happen one day, you know)
Above all, when the crisis strikes, keep calm and try to think clearly That is what I was doing although it was getting ever harder as the minutes ticked by, I was fooling around with unresponsive hardware and cables and did not think I would make it It never helps to panic though
Overall, remember that an ounce of good preparation beats a ton of remedial action after the event Remember, these things affect your trading There is no point in blaming the universe when they happen, as they will eventually
So, be prepared! You have been warned!
Copyright 2009 Asoka Selvarajah
Discover FREE expert Trading videos, podcasts and articles packed with secret strategies to super-charge your Trading and rocket your profits. Dr. Asoka Selvarajah also offers you his critical FREE report, The 7 Deadly Mistakes Of Online Trading. Visit His Online Trading Site (OnlineTradingRebel.Com) Right Now!
There is a law called Sod's Law which basically says that if anything can go wrong, it usually will and at the worst possible moment conceivable; so much so that it will seem as though the universe is conspiring to get you!
This is what happened to me today, but I am glad to report that it nonetheless had a happy ending
So, there I was having done a Dow Jones trade that I had every reason to be proud of I had bought the Dow Jones at 6474 last Friday night, just 4 points off the low of 6470 prior to a major rally I had watched it retrace to the 76 4% Fibonacci retracement level, while having added a slightly misguided pyramid to the position at the 61 8% retracement
Nevertheless, good fortune sometimes favors the bold and the market roared, as had been expected when I put the trade on in the first place I was well in profit, and that pyramid was helping very nicely All good so far
So, here I was booting up my computer about 35-40 minutes before the market opens My intention was to let it trade to the next major high, and take profits on the whole position and then reverse to a short position for the inevitable correction
Well, you can imagine my horror when I found that my router was not connecting to the Internet Thinking it was a temporary error, I rebooted the computer only to find the exact same thing! I tried again with the same result (and my computer takes AGES to come back fully into operational use after a reboot)
So now what? I have a major position on, I need to take action maybe immediately on market open, and I can't see it! Thoughts of having to physically telephone the broker to take the trade off blind, without a live chart, came into my mind
There were only twenty minutes before the market opened A desperate idea came to me I went up into the attic to retrieve the DSL modem to see if I could possibly install it in time At least I was keeping a cool head, but the clock was ticking me down
I fiddled around in the back of the computer and switched wires from the router to the modem, and connected it up Of course, the damn thing would not install properly I had to try several times, hunting for the specific driver, and the specific way to connect online
Just a few minutes left before the market opened At last, success! I finally logged onto the Internet, opened my trading software, and no sooner had it opened than it gave the "Market Open" clang of the bell I had made it with literally not a second to spare!
So what is the morale of this story? Why am I telling you all this?
Be prepared! The things that you think could not remotely happen, the things that would have to defy the laws of probability to happen, do happen! Who could have guessed that at precisely the moment when I needed to access the screens to take profits on one of my best trades in recent times, this kind of conspiracy of events would present themselves to thwart me and potentially screw up the trade?
If you use a router, make sure you have a modem handy too and ensure that the software is installed! Make sure that you have the number of the broker handy and that you know how to actually call in an order manually (do you?)
Basically, think ahead and try to picture what might go wrong and come up with a solution to it beforehand Maybe you need a spare computer too? What happens if there is a total power cut in your area (it WILL happen one day, you know)
Above all, when the crisis strikes, keep calm and try to think clearly That is what I was doing although it was getting ever harder as the minutes ticked by, I was fooling around with unresponsive hardware and cables and did not think I would make it It never helps to panic though
Overall, remember that an ounce of good preparation beats a ton of remedial action after the event Remember, these things affect your trading There is no point in blaming the universe when they happen, as they will eventually
So, be prepared! You have been warned!
Copyright 2009 Asoka Selvarajah
Discover FREE expert Trading videos, podcasts and articles packed with secret strategies to super-charge your Trading and rocket your profits. Dr. Asoka Selvarajah also offers you his critical FREE report, The 7 Deadly Mistakes Of Online Trading. Visit His Online Trading Site (OnlineTradingRebel.Com) Right Now!
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