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Wednesday, January 26, 2011

Good luck Trader Mike!

It appears Trader Mike sold his blog:

"Somewhere along the line my zest for blogging waned. There are a few reasons for that but I won’t bore you with the details.

In order to breathe new life into the site I’ve decided to turn it over to Blain and his team at Reink Media Group. Blain, who I’ve known (virtually) for several years, is passionate about both his trading and writing. I know that he has big plans for the future of this site and I’m confident that it’s in good hands. I hope you will all keep visiting and/or stay subscribed."

I fully understand the "zest" for blogging waning - it has happened to me many times over the years. The good news is, Mike says he will continue to contribute to the site periodically.

On a personal note, I owe much to Trader Mike. When I started this blog over half a decade ago, Mike visited and mentioned many of my posts on his site. As a result, my readership grew and the Trader-X blog thrived.

Trader Mike, I wish you all the best! Thank you for all of your help over the years, and I am sure life will continue to reward you for being the person you are.



Blain said...

Thank you for the mention. I was also a big fan of Mike's. My goal is to revitalize the blog and bring back those same roots it once possessed. I hope to see you around the site once I get the site back in shape!

Chips and Salsa said...


I took the exact same trade in MOTR, and I didn't fare any better, also stopping out for a loss. I was giving the trade plenty of room because it was so volatile, and the spread was so wide. I didn't want a repeat of my painful MCP whipsaw trade from a few weeks back. "Next trade" is all we need to say.

By the way, I wanted to commend you on your discipline to step away and not trade earlier this week. When charts don't present enough clarity, the professional thing to do is sit on your hands and wait, take the day off, etc. The amateurish thing is to start wildly lunging at trades to try and force them to work anyway (which I have been guilty of, certainly).

Living to trade another day is paramount to all else. I have personally had many, many painful losses over the years that were so unnecessary in retrospect. Feeling compelled to trade every day or every set-up is an emotional vulnerability for all traders.

Over the years, I had to get burned over and over and over and OVER again to finally accept and PRACTICE the ever-present need for that consistent, day-after-day, no-exceptions, sound, rock-solid money management as my ultimate indicator for success or failure. You preserved capital by stepping away from stormy charts. That's great money management.


Toni said...

I second that. Good luck Mike!

Eric O. said...

Trader Mike, you will be missed!

Anonymous said...

Mike, I enjoyed your blog and wish you the best in your next venture.