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Trade Like a Traveler Not A Tourist – Part 3
Any foodie knows that Singapore is an oasis of flavor. The wild mix of cultures on the island created a very rich culinary history of Chinese, Indian, Malay and Indonesian dishes. Every mall has wonderful food court where hawkers ply their trades and offer a dazzling array of Asian delicacies and signatures meals.
However, if you are boy from New York with a distinctly Western palette that doesn’t run much beyond salads, burgers and shrimp -- the wide array of flavors and seasonings can be overwhelming for both your nose and your stomach. So it is really important to ask about each dish and sample sparingly until you find what you like and more importantly can tolerate.
Trading is a very similar proposition. You may be offered the greatest long term system known to man, but if you can’t hold a position for more than a hour, it will never work for you. Conversely intra day setups that require nimble reaction time will be totally useless for someone who is uncomfortable trading in and out of the market ten times per day.
Most importantly, just as with food, it is very important to understand your ingredients, in trading it is really important to understand the setup. If you don’t understand something it is always much better to pass up the opportunity. Both your stomach and your trading account will thank you for it.