After watching the market trend for a period of time, there comes a point where you decide it's just too late for you to get in for the ride. Yet the market just keeps going on without you, so what other choice do you have but to try and enter trades in the opposite direction? That's it. That's basically how fast and easy it is to fall into the mindset of doing the wrong thing. Once you've decided it's too late to go with, you've effectively closed yourself off from what is possible. Either box with both arms or don't step into the ring at all.
Or "As if that blind rage had washed me clean, rid me of hope; for the first time, in that night alive with signs and stars, I opened myself to the gentle indifference of the world. Finding it so much like myself - so like a brother, really - I felt that I had been happy and that I was happy again." -- L'Etranger
or.. Ecclesiastes 1 Chapter 2 verse 13 Then I saw that wisdom excelleth folly, as far as light excelleth darkness.
Why do I do what I know I shouldn't be When trading, you should be called an asshole. In all other cases you are a sinner.
I listened to a talk from Bill Walsh recently the one of the all time great coaches fror the San Francisco 49ers. He explained when he was an assistant coach with Cincinnati they were in a championship game with Oakland. It was down to the wire. He was calling the offensive plays as the assistant coach. The Oakland fans realized that the people in the booth were SF coaches. They began throwing stuff in the booth. The noise was deafening. He called some plays. They were the wrong plays. They lost a very close game in over time. He changed his approach after that game. He said his approach was to develop a play for every possible situation that can occur. Practice it. When the situation happens you will know what to do, call the play and executive it because you've prepared for the situation no matter how unlikely. He said, you can't think clearly under stress. He said, those that say that they think better under stress, don't believe it. He said have a contingency plan for every situation. Most of us will never know the stress levels an NFL coach has. Thats why I found his comments interesting. This is how he did it. But, when the situation does occur, you've got to stick to the game plan. You can't get emotional and forget about the strategy and or specific plan you carefully evaluated when you set up the plan. We've all done it in buying or selling. The market didn't move how we thought it would, the stop we had originally put into place we don't wait for it to hit and sell it too soon or we go past the stop, thinking it will rebound. Stuff like that.
so trading does not need to be a nightmare? You fellah's all know the pit of a feeling deep in your stomach..I know you do... Admit it! excuse me while I go fart... Michael B.
it took me several months before I could fart in front of Wifey... She kicks me out of bed now after 19 years...