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Craig,
I thought your comments were really insightful, but I thought you were
overlooking a few key points. I think you need to have two different
approaches when you are trading stocks vs. commodities.
If you were talking about trading the stock market, I feel you need to have a
long term perspective on where the market might be heading. I think whether
you trade as a day trader or a long term investor you are making a prediction
on where you feel the market/stock/commodity you are trading is heading.
I do both short/intermediate term and long term trading on the stock market
and and when you use a long term view you don't really worry about the daily
fluctuations. It is when I take a shorter term view that the stress will
build up. I think more people lose money more because the fail to follow a
specific formula and good money management. Trading by emotion, whether fear
or greed, and trading without a solid approach will almost always wind up
losing people money in the long run.
JMP
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