Lessons from My Grandmother, Part IV: Respect Yourself and Others
Email This Article
Print This Article
Digg This
Delicious
SubscribeMOST POPULAR ARTICLES
- Kaeppel's Corner: Catching Up on a Few Ideas
- Closing Wrap-Up, March 18
- Closing Wrap-Up, March 19
- Market Trends: Boomer Time Horizons, Part 2
- Growth Stock Swing Option: March 18, 2010
- Foreign Exchange: The Running of the Bulls
- AU Editorial: Elliott and Its Ways
- Economic Watchdog, March 18
- Midday Action: March 19
- Midday Action: March 18
- Kaeppel's Corner: Catching Up on a Few Ideas
- TRADING FLOOR SECRETS: The Lazy Stock Collar
- Real-World Trading: Credit Yourself Using a Bull Put Spread, Part VII
- Kaeppel's Corner: Forecasting the Stock Market in 5 Minutes a Month
- Kaeppel's Corner: And Up Through the Ground Came a Bubblin Crude...
- Market Trends: Objective Investing Decisions, Part 1
- AU Editorial: Elliott and Its Ways
- Foreign Exchange: The Running of the Bulls
- AU Editorial: What If?
- Midday Action: March 19
- Growth Stock Swing Option: March 18, 2010
- Market Trends: Boomer Time Horizons, Part 2
- Economic Watchdog, March 18
- Midday Action: March 18
- Midday Action: March 17
- Kaeppel's Corner: Catching Up on a Few Ideas
- Real-World Trading: The Debit Spread, Part IV
SPONSORED LINKS
November 24, 2008
In Memory of My Beloved Grandmother
Welcome to Part IV of this five-part series.
I recall, from my good old days, quarrelling with my Grandmother on some minor issues. For example, I''ve never been much for eating fish. However, quite often she would give me her thousands of good reasons why fish is good for me, etc. When I defended my point, the outcome was always a pretty severe punishment!
What can you learn from this story between me and my Grandmother? First of all, each of us is different in terms of our personality. For example, Alec (a hypothetical trading buddy of mine), prefers to trade RUT, but that does not mean RUT is a good underlying to trade for everyone. However, what Alec should not do is impose his opinion on other traders and insist that RUT is the best-ever underlying to trade.
In the trading world, I hear many opinions each day. I learnt to respect these opinions but certainly will not agree with every single one; after all, I have certain sets of beliefs too. When a person gives his opinion on someone else''s strategy, does it carry any weight at all? Think about this seriously. It’s just an opinion and your task as a trader is to evaluate the opinion and determine if it makes any sense to you.
I''ll give you another example. Suppose a person is a firm believer of Theory A and Hypothesis B. He then says to the whole world that only Theory A and Hypothesis B make sense and the rest don’t. Worse still, he starts to criticize the others who are believers of Theory C and Hypothesis D. To me, I find this type of person very irritating because he doesn''t respect others’ opinions at all. The fact is that everyone is entitled to his or her own opinion.
Learning to accept someone else''s right to their opinion without argument will prevent everyone involved from being on the receiving end of any type of "punishment." Remember: there are many ways to carry on this trading business. So, it''s best to learn how to accept others’ opinions while still remaining true to your own. Then you will be able to enter into a fruitful and amicable discussion instead of an argument, which most likely lead to nowhere positive.
To access previous articles written by Jack Wong, please click here.
Jack Wong
Staff Writer and Instructor
Optionetics.com ~ Your Options Education Site
© Copyright 1995-2010 Optionetics. All rights reserved. This material is for personal use only. Republication and re-dissemination, including posting to newsgroups, is expressly prohibited without the prior written consent of Optionetics. Optionetics is a registered trademark of Optionetics, Inc.