Friday, September 23, 2016

A book I wish I'd read $600,000 ago

I finally read this book too late:


I had the largest loss of my trading career yet in July 2016, after the market zoomed up after Brexit and I was short. I couldn't believe it wouldn't go back down, and it just didn't for way too long ...

Mark Douglas lost everything he had trading: job, house, car, wife. He then looked into the psychology of trading losses and came up with insights that I think have gotten me off the losing track, finally.

I strongly suggest any trader would benefit by this book so I won't leak more of the contents except one of his principles that spoke most loudly to me:

Anything Can Happen at Any Time


I should have known this as I've been trading since 2009, but I just didn't have it installed uppermost in my belief system ... where it is now.

Thanks, Mr. Douglas and best of trading to all you traders out there!

Never buy a locked phone: an anecdote about unlocking a T-Mobile

T-Mobile is known for annoying AT&T and the rest of the industry by some of their pricing policies and I therefore had them filed under sort of the 'virtuous rebel' flag:






But it turns out they behave more like the Empire when you want to leave:


My wife and I started trimming Stupid Expenses, and when I looked and found that I was paying $71/month to T-Mobile for worse coverage than I can get with Cricket (see my plug for Cricket elsewhere in this blog) at $45, I had to make that change.

Naive youth that I am, I just assumed that virtuous T-mobile would automatically unlock your phone when you finished paying for it (we had) ... silly me.

I took the phone to Cricket and got the new Cricket SIM card installed and only then found out the phone was locked. I called T-Mobile to get it unlocked ... and found some unbelievable stalling practices they use:


  • "Check for an email in about an hour" with instructions for unlocking, which will take another 24 hours after that.
  • The email didn't arrive, so I wound up calling back once more and 'chatting' once after that
  • I stopped at their retail store, who tried to help but told me I had to call customer service ...
  • Finally, the Cricket rep told me how typical this all was and that I had to just ask for the supervisor at T-Mobile to get things moving
This finally worked; I gave her a shorter email address and finally watched it arrive while I was on the phone, and said thanks and hung up.

It then took about 22 hours for the actual unlock to happen ... now the next day I finally got two more of those (intentionally?) glacially slow emails ...

What modern internet-connected organization would tolerate email taking 24-36 hours to arrive unless they wanted it that way?

Goodbye and good riddance, T-mobile ... you lost my good will on the way out.