BAC sure looks like it was a good buy around the $3.20 level with the $8 target! Concepts, ideas, systems, approaches, etc, etc, will indeed pass through the mind of a trader. However, the obvious is such that you avoid all the distractions that will "waste" your precious time! What you say is neither wrong nor right; it is just the path that many take due to their exposure. When one gets to a certain stage in life, and many wrong paths have been taken, then "correct" path is easier to find. A recent discussion with a trader raised a very important topic - I will post some related details and let people see what they make of it?
When you see something that you have seen before, you better make sure that you know the real meaning of it! http://www.youtube.com/watch?v=x-gfNkyqG18
I competely understand Sir But as we all know - to be successful we must BLSH and SHBL the majority of the time Take Care
Because most people have never been taught to think for themselves, and for the most part are actually discouraged from doing so. You could drop the majority of people into a barrel full of tits and they'd come up sucking on their thumb unless someone gave them directions prior to dropping them in.
I think it was you who turned me on to New Market Wizards page 128 beginning with the section "If trading can be taught . . ." which speaks to the topic of this thread. Also the quote on page 134: "The majority of people trade worse than a purely random trader would."