“The Texas Ranger could ride like a Mexican, trail like an Indian, shoot like a Tennessean, and fight like the devil.” – A Texas historian
“One riot, one ranger.” – Captain Bill MacDonald, Texas Ranger
I just got back from driving around west Texas. If you have never been to that part of the world, just rent the movie, Giant. You’ll get an idea what it’s like. Just picture lots of dirt, rattlesnakes and burritos. My dad and I were around a town called, Marfa, TX, which is south of New Mexico, north of Mexico. It doesn’t get any rougher than that. Just to put you in the mood, here’s a long clip from the movie: The Good, The Bad and The Ugly. Raymond, our movie buff, that was for you, my friend.
So, what did I learn from my trip and how does that apply to our everyday trading?
The Good
People are very friendly, but I found that they may look at you funny if you ever find yourself ordering a salad at a truck stop especially while humming the latest Adele song (hey, it used to be Frozen songs…I’m getting better).
The Bad
Tough environment. It’s the land of roadrunners and tumbleweeds. I can’t even imagine how the early settlers survived out there with the elements and Comanche Indians, who were the best horseback riders, raging havoc. Those were some tough individuals. And I thought finding wifi just to fix my T+0 line was tough.
The Ugly
The oil & gas based economy is hurting. Here’s a picture of over 54 rigs sitting idle. I took this picture while driving through Midland, TX, and that’s just one company.
So, when the market is not going your way, just think of west Texas. It’s tough but it keeps marching on. Stick with your strategies no matter what the environment. You’ll get through it. Just remember, it could be worse.
Just don’t fall off your horse.
Happy trading!
Written and contributed by John Wilson
I personally live in central Texas and hunt in west Texas. Very true what you say. I also just finished debriefing my latest loss on a trade and fortunately found my many mistakes. As you say, staying on the horse still but sometimes I feel as if I got kicked off many times already. Thank you for the words of encouragement.