Don’t Be a Stubborn Trader!

A lot of people have been listing off reasons why the markets should have pulled back by now (myself included).  However, the current bull-run has raged on, especially after last Friday’s jobs report.  As people, we all have a need to be right, but as traders this need has absolutely no value whatsoever.  It’s important to take what the market is giving you instead of trying to take what you think the market should be giving you.  After a challenging January, I came to my senses, swallowed my pride, stopped being stubborn, and took what I felt the market was giving me.  In other words, I closed my short positions, and I got long.  I felt there was no reason to continue to swim upstream, when I could be swimming with the current and profiting.  The result: I made some very significant profits thanks to Friday’s market pop.  My advice to anyone trying to trade these markets (I know, everyone hates advice) is to not be a stubborn trader.  Sometimes it helps to change course and take a bite out of the dog that bit you!