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On 8-8 Dr. Ralph Swanson apparently made a post to the list that I apparently
missed. A recent response brought it to my attention.
I do not totally agree with the good Doctor but some of his comments most
likely will hit home with quite a few who post to the list. His point that
in the end, each one of us is responsible for his trades, win or lose, is
absolutely correct. All the advice received from the best to the worst
brokers or advisors is studied by the investor and it is he (the investor)
who makes the decision. He pulls the trigger....authorizes the order to be
executed. The sooner one accepts this fact and quits putting the blame on
the broker/advisor, the sooner he will become a more successful investor.
So, each and every one of us should, at the next cocktail party, quit taking
credit for our successes and blaming our broker for our losses. They are
both ours!!
I have been around this business for a long time......and I am sorry, I must
add my two-cents worth. I have always believed that "traders generate income
and long term investors create wealth." With long term capital gains at 20%,
I think more people should favor the latter. Then, once the wealth is
created, have fun trading.
Stick around, Doc.....
Jerry
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