Maintain your old Siemens Hipath system

Remembering TEOTWAWKI and Learning from It

Its only been about 5 years since we had major scares in the marketplace regarding Y2K. You might recall that many computer systems were not programmed to be able to understand the change from 1999 to 2000. There was a tremendous amount of panic created by those who were convinced that as the clock hit midnight on on New Years Eve 2000 that we were going to enter the Dark Ages.

By my analysis this never occured....unless I slept through it and nobody bothered to wake me up! (Note to self: Make sure Staff wakes me up when Y2K occurs!)

The word we are supposed to learn from and understand is; TEOTWAWKI....(The End Of The World As We Know It ) It was a word created by the Y2K scare.

I think there is a very profound lesson to be learned from the Y2K scare. That being that forecasting is pretty much worthless. The real issue with trading as with life itself is to manage risk. Risk can be defined many ways but usually it involves not being prepared for the future and embracing an opinion.

The one advantage of living in a free society is that we are fortunate enough to be exposed to numerous viewpoints on a daily basis. As traders we must learn to constantly differentiate the difference between FACT and OPINION and determine how new data can affect us.

For those who never learn to do this, The End of The World As We Know It will reflect itself in their portfolios. For the rest of us all we can learn to do is MANAGE RISK. It is the only trading secret there is.

There are two schools of thought in trading.... TEOTWAWKI and Risk Management. You make the choice.

The only constant in life is change. Don't forecast. Manage your RISK.

Dowjonesfully,
-Harald Anderson
http://www.eOptionsTrader.com.

Harald Anderson is the founder and Chief Analyst of eOptionsTrader.com a leading online resource of Options Trading Information. He writes regularly for financial publications on Risk Management and Trading Strategies. His goal in life is to become the kind of person that his dog already thinks he is. http://www.eOptionsTrader.com.

In The News:

Foreign tourists hurt in bus blast near Egypt's pyramids
Sun, 19 May 2019 13:57:00 +0100
At least 17 people have been injured in a blast targeting a tourist bus in Egypt.

Trump enters row over state-led abortion crackdown
Sun, 19 May 2019 13:33:00 +0100
US President Donald Trump has waded into the row over strict new abortion laws introduced by some US states arguing he is "strongly pro-life".

Google deals Huawei major blow by cutting Android licence
Mon, 20 May 2019 00:41:00 +0100
Google has dealt a major blow to Chinese telecommunications giant Huawei by blocking the firm from using critical apps and services like Gmail and YouTube on its range of smartphones, according to reports.

Brits could be banned from Syrian terror hotspots
Sun, 19 May 2019 21:09:00 +0100
Hard-hitting new security powers that would ban British citizens from designated terrorist hotspots are set to be introduced across large parts of northern Syria.

Columbine shooting survivor found dead aged 37
Sun, 19 May 2019 15:42:00 +0100
A survivor of the Columbine High School shooting has been found dead at his home in Colorado 20 years after the attack.



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