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"Luck is what happens when preparation meets opportunity"
Posted: 02/19/10
By: tomgrisafi
There are a few "sayings" that bounce off the walls on a consistent basis here at Indiana Grain. Such as: "You Have to be In It to Win It", "I am not here to save money, I am here to make money", and "Luck is what happens when preparation meets opportunity".
Post-9/11, another term that has found its way into the trading industry is "if a plane goes through a building". Never to make light of a terrible situation, but the point is to be aware at all times.
Not only did a small plane hit a building during yesterdays afternoon trading session, we also had a surprise discount rate hike by the Fed.
Being a successful trader is not about getting lucky, or being in the right place at the right time. Rather, its about doing your due diligence, being prepared, and for lack of a more articulate term, you have to be "in it to win it.
Bottom line.
4 Comments
Guest
Posted: 02/19/10
Cannot make money sitting on the sidelines.
Thomas Grisafi
Posted: 02/19/10
I noticed in todays modern trading world you get what you pay for.
Guest
Posted: 02/19/10
Shit in one hand, wish in the other, and see what fills up first.
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Guest
Posted: 02/19/10
Great point. Only loosers believe that the winners are lucky.